Computerlinks shareholders approve Barclays buyout


Computerlinks shareholders approve Barclays buyout

Alex Scroxton

Barclays Private Equity looks set to officially take over Germany-based security and network distributor Computerlinks providing the European Commission approves the acquisition by 27 August.

The distributor announced today it has approved the €15.50 per share offer for just under 85% of its assets, and investors will now have two weeks in which to approve the deal themselves.

CEO Stephan Link said the board was pleased to have found an investor that understood Computerlinks' business model and was committed to supporting the firm's strategic development.

"We will make even more targeted efforts to exploit market opportunities and accelerate our market growth," Computerinks said.

The firm currently works in 11 European countries, as well as in Australia, the UAE and the USA, and senior staff within the company have previously hinted strongly that Computerlinks is eyeing up APAC.

During the course of 2006 and early 2007, Computerlinks was sold off by former IT distribution heavyweight Fayrewood as part of a massive divestment plan that has now seen it exit the channel altogether.

Computerlinks thrived during its year of independence, growing total revenues in its fiscal 2008 by 18%, while net profit soared 23%, with the UKa star performer. However, rivals criticised the firm for making big plans without having cash in the bank to back up its ideas.

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