Datatec directors pay up on insider trading charges
And other channel action
Two Datatec directors have paid fines of 1 million rand (think 10 rand to the pound) to square insider trading allegations levelled at them by South Africa regulators. The pair, executive chairman and founder Jens Montanana and finance director Robin Rindel deny the charges but say it was easier to settle. Datatec, a multinational networking equipment reseller and distie, is listed on the Johannesburg Stock Exchange. Its major operating businesses are Westcon and Logical.
The death sentence on C3000 was effectively announced in April, when Euler Trade Indemnity withdrew insurance cover from the company. C3000 owes £3m to trade creditors and up to £7.1m to IBM, Cw360.com says.
Turnover for the company last year was just over £60m.
C3000 was a comparatively small distie with very big plans revolving around ecommerce. The company obtained finance from IBM to help it develop a reseller trading platform around Broadvision software. This operation, called B2B4U, launched in February this year.
HP has launched a Solution Provider programme targeting ISP, broadband and mobile providers. It's all very exciting, as you can read here.
Enterasys Networks, the bit of Cabletron that competes with Cisco, is redoubling efforts to pump up resellers' sales through a channel programme. Operational worldwide, the four(!) tier accreditation scheme is designed to make it easier for resellers to deal with Enterasys. Higher margins are promised too.