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Electronics Production | April 03, 2012

Altimate Group to be sold for a loss

DCC will sell Altimate Group, DCC SerCom's Enterprise distribution business, to Arrow Electronics.
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.
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