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COMPEL ACQUIRES CORPORATE RESELLER ABTEX

Abtex Computer Systems Ltd, a Scottish computer reseller, has been acquired by Compel Group Plc for an initial consideration of 1.6m pounds, rising to 4.5m pounds dependent on the Aberdeen-based company’s performance over the next two years, ending 30 June 1999. Abtex is to take over Compel’s Scottish business and will trade under the Abtex name. It will operate as an autonomous subsidiary with combined revenues of 29m pounds and 160 staff. Prior to the acquisition, Compel had only ten people in Scotland, generating revenues of 4m pounds. The companies say there will be no job losses. Abtex customers in Scotland include BP Exploration, Scottish Nuclear and Shell UK. Compel, which counts itself amongst the top four corporate resellers and systems integrators in the UK, has concentrated on servicing large end-users. It made profits of 5.1m pounds on revenues of 111.8m pounds for the year ending June 30.

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