Amsterdam-based Newtron Holdings NV, the $280m a year distribution, data communications, software and systems company, has clearly targeted Belgium as its first area of expansion outside the Netherlands. In recent months, it has taken significant stakes in the distribution and data communications interests of large Belgian players such as TM Data, 3-Line, Positronika and the systems divisions of EBC, Dalcom-EBC and ACX-Software. Its latest purchase is Topdata Belgium, the Brussels arm of Benelux financial software and systems house Topdata. Official Newtron policy is not to reveal the size of the consideration paid, or any figures relating to the performance of the company acquired – but a Topdata spokesman reckoned that the Belgian operation did around UKP5m last year. Neutron states that, while it is looking for synergies between Topdata Belgium and Ordina, the new acquisition will be allowed to operate as a separate entity. Newtron’s lomg-term strategy is to act as a holding company for a variety of interests spread across Europe – after the Benelux countries, it is most interested in moving east and south into Germany and France. Meanwhile, Newtron principals are being kept busy preparing for an almost certain flotation on the Amsterdam stock exchange at the end of October – Newtron president Ton Stam said that events in the Gulf will determine exactly when. Given the uncertainty, official statements indicate only that the shares will be offered at a reasonable price, but other sources tentatively suggest it will be in the region of $8.50 a share.
