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August 23, 1988

ATLANTIC COMPUTERS SNAPS UP MORE OF THE UNCONSIDERED TRIFLES LEFT BY ICS

By CBR Staff Writer

Atlantic Computers Plc, the London-based computer leasing company about to be taken over by British & Commonwealth Holdings Plc (CI No 976), has picked up some more pieces of the Swedish ICS Group. Atlantic, which acquired the Danish subsidiary last month (CI No 964), has bought up ICS subidiaries in Norway and Switzerland, as well as two associated companies in Sweden, in an UKP11m deal. ICS A/S in Norway is involved in the sale, brokerage and financing of mainly IBM and DEC equipment. It employs 48 people and had a turnover of UKP16.3m for the year to June 30 1987, with pre-tax profits of UKP800,000. ICS B&B Finanz AG in Switzerland, which employs 21 people, leases IBM processors and peripheral equipment as well as used IBM equipment. It saw pre-tax profits of UKP300,000 on a trurnover of UKP4.4m for the year to December 31 1987. Atlantic has also acquired Ljus Och Kraft Data AB and Ljus Och Kraft Installationer AB in Sweden which install local data communication systems and wiring networks. LOK Data has four employees and saw pre-tax profits of UKP250,000 on a turnover of UKP1.5m for the seven months to March 31 1988. LOK Installationer employs 30 engineers and saw pre-tax profits of UKP200,000 on a turnover of UKP1.8m for the year to December 31 1987. In addition, 11 ICS leasing sales staff in Sweden and all of the ICS sales staff in Finland have joined Atlantic, enabling it establish a Finnish operation and giving it sales coverage throughout Scandinavia. Swedish company laws prevented Atlantic making a bid for what was a very loose association of companies as a unit, however it has managed to pick up a sizeable chunk of the group’s Scandinavian operation where Atlantic felt it was under represented. The first closing date for British & Commonwealth’s agreed bid for Atlantic is next Wednesday and a company spokesman said he expected everything to go smoothly.

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