NS Optimum buys PARS out of administration

The trade and assets of defunct system builder PARS Technology, which fell into administration in February, have been bought from administrators Rendle & Co by fellow education specialist NS Optimum for an undisclosed sum. Milton Keynes-based PARS went under after hitting financial difficult

The trade and assets of defunct system builder PARS Technology, which fell into administration in February, have been bought from administrators Rendle & Co by fellow education specialist NS Optimum for an undisclosed sum.

Milton Keynes-based PARS went under after hitting financial difficulties linked to a VAT carousel fraud, and had been talking to potential buyers or investors before that.

NS Optimum recently underwent an MBO and augmented its management team with a view to embarking on a roll-up of companies specialising in the education ICT market.

In a statement today the firm said it anticipated a number of "similar purchases" to expand further.

Managing director Andy Rutley said: "PARS has a great brand and a loyal customer base.

"With over 20 years experience in the IT sector we are in an excellent position to provide PARS customers with continuity of service and expand the services we can offer them," he added.

NS Optimum has committed to providing ongoing warranty support for PARS customers provided they meet certain criteria.

Said Rutley: "[We] have a commitment to UK education customers and do not want to see any school or college left in a support vacuum."

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