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Magirus buys Exello

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Storage disty Magirus is buying Exello, a Scandinavian storage and services specialist. Exello is based in Denmark and Sweden.

The deal will give Magirus access to two markets immediately with the goal of going after other Nordic countries "in the medium-term".

Jan Andersen, CEO of Exello, will run Magirus's Scandinavian business unit.

Magirus employs 450 people in Europe and the Middle East and claims annual sales revenues of €550m. It specialises in selling storage and related services to medium and large organisations including banks and insurance companies, telcos and public authorities.

The deal is expected to close 1 April 2005.®

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