Radius Plc of Hull, once specialising in applications on Texas Instruments Inc hardware, latter adding Data General Corp kit, and now much more broadly-based, has paid UKP848,000 in cash, shares and funny money for Avalon Systems Ltd, a Leicester-based specialist in the supply of management information and financial systems for the carton printing industry. The UKP848,000 is made up of 547,945 new Radius shares valued at 36.5 pence a time, loan notes to the value of UKP250,000 and the balance in cash, to be financed from Radius’ own resources. Avalon made sales of UKP1.6m for the year to July 31 1993, on which it did UKP46,000 pre-tax; net assets at the time were UKP150,000. The terms of the agreement include a forecast by Avalon of profit before tax of UKP160,000 for the year to Sunday last. Radius regards itself as a major supplier of computer systems to the printing industry via its subsidiary Radius Solutions Ltd subsidiary, which markets Pecas, described as the latest available technology, in the form of an open systems package. The unit had sales of UKP2.5m to the printing sector in 1993 and generated pre-tax profit of UKP170,000.
