The transaction, which was effected through El Camino Resources (Europe) Limited’s Oak Brook International business unit, was completed on July 24, 2000.
Cardinal Computers, which employs a staff of 34 and was responsible for $14 million in revenue during 1999, is also engaged in Web enablement, Web hosting and e-security for its clients. The company has a strong presence in the southern part of the United Kingdom, including the city of London.
Peter McCord, El Camino Resources’ managing director for Europe noted that Cardinal Computers represents a natural complement to the expertise within and services provided by — REAL Solutions in the United Kingdom. Our REAL Solutions reseller and services division has already established a positive reputation with several major British industries, McCord noted. The acquisition of Cardinal Computers offers us an excellent opportunity to extend the reach of REAL Solutions, particularly in the areas of IBM hardware platforms and e-business and networking development, throughout the southern part of the United Kingdom and especially into London. Cardinal has placed a strong emphasis on sales and marketing and will provide REAL Solutions the opportunity to maximize its services potential in such areas as the Mimix high availability solution and Lotus/Domino implementations.
The merger was also endorsed by David E. Harmon, president and chief executive officer of El Camino Resources, Ltd., who commented that Cardinal Computers already has a successful track record in working with our Real Information Services business unit on sizeable insurance sector wins which have meant computer equipment revenue for Cardinal and services revenue for Real. And, within days of the completion of the acquisition, the staff of Cardinal Computers was heavily engaged with REAL Solutions in several potential transactions. I think that this speaks well to the synergy that exists between the two companies and to what we can expect in and from our United Kingdom services businesses.
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