Bankrupt Flemish telecommunications company Devlonics NV has been bought out of receivership by Brussels-based SAIT Electronics NV, with which negotiations before the crash last month had already failed on at least two occasions. Terms of the deal were not announced, and a spokesman for Devlonics in Hasselte said that to his knowledge Devlonics had not yet been informed as to SAIT’s intentions concerning staff levels after the takeover. Not surprisingly, he did not think everyone would be able to continue after the deal, believing that SAIT was interested only in the core communications business, largely comprising modems. He feared that the Compact Disk activity in Hasselte would likely be stopped. The new company, which is already answering the phone as SAIT Devlonics, is thought to have orders of at least $4m on the books, and is expected to finish the year with a turnover of around $20m. The only other viable takeover candidate for the Kortrijk-based company, HCS Belgium, was said to have withdrawn its offer.
