Datatec buys Network Si

Datatec UK has splashed out again - - this time on Network SI, the venerable networking equipment reseller . The South African-owned conglomerate is paying £8.5 million upfront for the company. No earn-out is attached to the deal. Network SI, the third UK reseller bought by Datatec in a year, will merge into the group’s Logical business. Network SI turned over £16.5 milllion for FY98. The company was carved out of ACT, long since dissolved into Misys, and Mitsubishi Electric PC Company. Pro forma Logical Networks UK revenues are £85 million per year, following the takeover. Datatec has strengthened its M&A management team, with the appointments of Bob “Sonix”Jones and John “USR”McCartney as deputy chairman, who join executive chairman Jens Montanana. Jones and McCartney joined the Datatec board as NEDs in June. ®