ICL Plc software house Transaction Point Ltd, based in Reading, Berkshire, went into liquidation at the end of last year citing recessionary trends as the reason for its collapse (CI No 2,072). However, with its eyes on new markets, Digital Equipment Corp value-added reseller Aran Ltd, headquartered in Thatcham, Berkshire, acquired the products, contracts and offered employment to 20 of the 25 staff left out in the cold by Transaction Point’s collapse. Financial terms were not disclosed, but Aran expects the Transaction Point acquisition to contribute UKP1.5m in revenues to a combined company turnover of UKP5m by the close of its 1994 financial year on March 31. Aran doesn’t expect the Transaction Point acquisition to have any effect on end of year net profits to March 31 1993 – the costs of the takeover will be incurred as an extraordinary item charge. Aran has set up an ICL division to accommodate the new business, which will be run by former Transaction Point employees. The Transaction Point assets sold to Aran include the rights to its flagship fourth generation language tool and relational database system, Demon, its Range Text Manager word processor and project management system, Kernel-PMS. The liquidator that handled the sale is Clogg & Whitehill Ltd, also of Reading, Berkshire.
