The Winprime Group, funded to the tune of UKP5.5m by 3i Ventures, has acquired Newbury, Berkshire-based Document Technology Ltd. Document Technology, also funded by 3i Ventures, was established in the mid-1980s to design and manufacture page printers, using light emitting diodes as opposed to laser technology. The company put considerable resources into research and development, but by 1986 acknowledged that the Japanese were unassailable in that field, and subsequently diversified into distribution and developing interface boards for printers. Winprime, which was founded in 1983 under the aegis of Software Ltd, was behind two other start-ups, Network Connect and Softshop Ltd. The first is buys DEC machines OEM, and Softshop resells accountancy software and personal computer communications. Winprime acquired the hardware peripherals division of Norbain Electronics in 1988, and that has been subsumed into Software Ltd. Document Technology was acquired at net asset value plus likely profits over the next 18 months, but neither company will reveal further financial details. The Winprime Group has an annual turnover of UKP40m and employs 170 staff, but as a private company, it is entitled not to disclose profits. Apart from 3i, the company is backed by CIN, Close Brothers, County Bank, Legal & General, and Questar Capital. Managing director Martin Blaney says that the company is keen to acquire DEC, IBM, or Hewlett-Packard communications companies, although software houses and resellers are also of interest.
