Data Storage Acquisitions in Italy and Switzerland
Synstar PLC
30 March 2000
SYNSTAR BOOSTS E-COMMERCE AND DATA STORAGE CAPABILITY
WITH ACQUISITIONS IN ITALY AND SWITZERLAND
Reminder: Analyst Briefing on Computer Services Division
Guest Speaker: Sandra Ford, GKN Westland
Synstar Plc, the pan-European IT services group which boasts some of
Europe's most prominent household names as clients, has made two infill
acquisitions to boost enhance its current capabilities in Continental
Europe.
ITALY
Synstar has acquired Milan-based SET Telecommunicazioni S.p.A (SET), a
multi-service networking company specialising in the provision of total
network solutions, comprising voice and data in LAN / WAN environments.
It also offers Internet-Intranet installation and maintenance services.
The acquisition is important as it boosts Synstar's existing e-commerce
capabilities and complements the existing services in France and the UK.
The consideration is £324,000 and Synstar will assume debt of £324,000.
Turnover for the year ended December 1999 was £2.2m. Synstar will pay a
further £454,000 in January 2001 if SET achieves aggressive growth
objectives.
Luigi Brunello, Managing Director of SET, will remain with the company.
His team of 20 people will be relocated to Synstar's Italian
headquarters, also in Milan.
SWITZERLAND
Synstar has acquired CT Consulting AG (CTC), a small data storage and
management company based in Meilen, Zurich. Founded in 1989, the company
addresses the needs of private industry and government institutions for
an improved systematic means of storing and managing large volumes of
data. In these areas, there is a direct synergy with SIS - the European
Data Management Company acquired by Synstar in 1998 - where consultancy,
hardware and software solutions are provided from some of the same
manufacturers.
The consideration is £960,000 on completion, with a deferred payment of
£120,000 payable over five years. CTC's turnover for the year ended
December 1999 was £1.24m.
Peter Ruzicka, Managing Director of CTC, will remain with the company.
The team will eventually be incorporated into Synstar's existing European
Data Management division, to service the Swiss market, operating out of
Zurich.
ANALYST BRIEFING
Synstar will hold its regular divisional seminar today. The focus in on
the Computer Services division and guest client is Sandra Ford from GKN
Westland will explain her company's global IT strategy and buying
criteria.
The seminar will be held at 11am at the City Conference Centre, 80
Coleman Street, London EC2. It will be followed by an informal buffet
lunch. To register, please call Katherine Harris at GCI Focus on 020 398
0800.
For Further Information:
GCI Focus Group Limited
Susy Streeter 070 500 47198
SYNSTAR PLC 01344 622 700
Richard Ferre Chief Executive
Stephen Gleadle Finance Director
Joanne King Investor Relations Manager
www.synstar.com
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