Morse snaps up Spanish dealership

European roll-out

Morse, the mid-range reseller, is expanding into Spain through a 51 per cent stake Integracion de Sistemas Abiertos SA (ISASA). This will cost it £1.76m in cash.

Morse also has options to buy the rest of the company over the next two years for another £2m. The Spaniards could also trouser another &#1639.42m, if they hit all their performance targets

ISASA has offices in Barcelona and Madrid, and employs 47 people. For the year to December 2000, ISASA had sales of Pta 2,910m (£10.77m), PBT of Pta 122million (£0.45m). Net assets were valued at Pta 212m (£0.78m).

Morse is Europe's biggest reseller for Sun and midrange HP kit. The company operates in the UK, France and Germany. ®