PARS Technology talking to buyers and investors

News

PARS Technology talking to buyers and investors

Microscope contributor

UK system builder PARS Technology is weighing its options and hopes to wrap up a sale of the business or find an external investor within a week.

The Milton Keynes-based PC maker made roughly one third of its 31-strong workforce redundant in November to cut its cost base and is exploring the best way forward in an economically challenged environment.

"Selling the business is an option, financing is an option but we are not interested in administration," PARS CEO Farhad Kazeroonian told Microscope

In the most recently filed results for the year to 31 August 2009, PARS made a loss of £189,000, albeit lower than the £449,000 loss it posted a year earlier, on the back of a 30% decline in sales to £12m.

According to channel insiders, systems builders have looked at firm with some touting Mesh as a possible suitor, however this was dismissed by Kazeroonian.

"We have quite a few interested parties talking to us [about a potential sale or investing in the business] but I can categorically state that we are not talking to other system builders," he said.

PARS builds and sells PCs, servers, storage and AV kit with the education sector accounting for the lion share of its business.

Kazeroonian said: "With a bit of luck things will be finalised by the end of next week."

In the last five years, the community of local PC builders was decimated by multi-national vendors armed with greater economies of scale. Many also blamed Intel and its nefarious rebate programme with Dell for contributing to their demise.

Related Topics: Desktop PCs, VIEW ALL TOPICS

Join the conversation Comment

Share
Comments

    Results

    Contribute to the conversation

    All fields are required. Comments will appear at the bottom of the article.