Feeds

Azlan buys Horizon's training biz

Beefs up Cisco arm

  • alert
  • submit to reddit

Azlan is beefing up its training arm with the acquisition of Horizon Technology group's Cisco training division for up to £7.4m cash.

It is not taking on any debt: Horizon's training arm had net liabilities of £2.6m at December 31. On completion of the sale, the business will retain liabilities of £200,000. Azlan reckons the purchase will be earnings enhancing within 12 months.

Azlan is buying the business from its cash pile, filled recently with the first repayment of £1.3m from HM Customs & Excise for overpaid VAT. Azlan expects to clawback another £4m from Customs.

Horizon, an Irish-based Sun reseller and distie, is in retrenchment mode this year. In March it shut down its UK lossmaking reseller division, which turned over £45m a year at its peak. Today the company announced that it has revised terms to buy out the minority shareholding in its Client Solutions subsidiary. Originally it was going to pay in stock, but tumbling share prices over the last year would have meant a big dilution. Now it is going to pay a mixture of cash and shares. ®

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.