Memory distributor Datrontech Group Plc is to acquire Guildford, Surrey PC Card specialist Portable Add-ons Ltd for maximum total consideration of ú4.2m. In the year to March 31, Portable Add-ons reported pre-tax profit of ú430,000 on turnover of ú4.4m, with audited net assets of ú200,000. Portable Add-ons will take responsibility in the UK for the sale of Kingston Technology Inc’s range of products for mobile computers. Initial consideration of ú1.7m is made up of ú600,000 cash and 122,700 new Datrontech shares, plus ú600,000 in convertible loan notes and restrictive covenant payments to the existing directors of Portable Add-ons of ú96,000. There is deferred consideration of up to ú2.5m.
