Computacenter buys £5.4m-worth of DAMAX
You have to keep a watch on the Swiss
Computacenter (CC) has expanded its European footprint by splashing out £5.4m for a majority stake in Swiss IT service provider DAMAX AG.
Under the terms of the deal, services-based reseller CC has snapped up 80 per cent of the firm, which includes over 2m CHF net cash on the balance sheet.
London-based CC said this morning in a statement to the City that DAMAX is already a "significant subcontractor of services" to its Swiss customers and the acquisition will give CC a local presence to forge stronger ties with local businesses.
The founder and CEO at DAMAX will remain in the hot seat, but CC's intention – subject to meeting performance criteria – is to fork out for the remaining 20 per cent of the operation, costing 3.2m CHF (which is currently £2.4m) in cash, by mid-2015.
This is the fourth purchase CC has made this year, following deals cut with French reseller Top Info, German Apple house HSD Consult and a £500,000 investment to take a minority stake in Basingstoke-based Microsoft Gold partner ICS Solutions.
CC was unavailable for comment. ®