Altimate Group to be sold for a loss

The disposal is conditional on competition clearance from the European Commission and DCC said it expects an exceptional loss off approximately €8.0 million on the deal.   Altimate sells a range of data management, security and virtualisation software, servers and storage products which are typically utilised in medium-sized and large organisations and Altimate's customers are principally based in France, Iberia, Benelux and Britain. The enterprise value for the transaction is €48.1 million, of which €41.0 million is payable in cash on completion. In addition, Arrow will take on certain deferred acquisition consideration obligations of Altimate which are currently recorded in the books of Altimate at €7.1 million.