Morse snaps up Spanish dealership
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 ٧.42m, 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. ®