View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 20, 1988


By CBR Staff Writer

Melksham, Worcestershire-based display terminals manufacturer Cifer Plc has made its first acquisition since it was restructured under a mangement buy-in last month. The company has paid UKP788,000 cash for bankrupt telex terminals, message handling and switching products manufacturer ATS Communications Ltd, which is based in Haywards Heath, West Sussex. The cash buys the business and assets of the company but not the liabilities, and gets a blue chip customer list in banking, retailing, media and oil sectors and a UK-wide distribution and maintenance network. The ATS assets being acquired – stocks, work in progress, equipment, has a book value in excess of UKP1m, and the company did UKP8,000 pre-tax on turnover of UKP6.1m for 1987 before plunging into an unaudited UKP303,000 loss on turnover of UKP2.3m for the seven months to July 31 last. Cifer has also tapped Mark Eardley from corporate finance at Barclays de Zoete Wedd to be its director of corporate finance, and Tony Johnson from the board of Fletcher Dennys Plc to be managing director of the existing terminals operations of Cifer.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.