Harris Adacom Network Systems Ltd has formed an independent company to provide financing for customers wishing to lease networking products. The Winnersh, Berkshire company, which laid off nearly a quarter of its staff in July (CI No 2,471), says HA Finance will be totally independent from it and the Harris Adacom empire, and will provide finance to customers wanting to lease Harris Adacom Network Systems products and those of other manufacturers. HA Finance will be based at Winnersh, recently a hive of activity: last month Network Systems’ former sister company within the Harris Adacom group, Harris Adacom Ltd was bought by three of its directors (CI No 2,483). Harris Adacom Ltd and Network Systems were formed in 1994 when Harris Adacom in the UK was split, however, the companies have existed in varying form since the 1960s. And while Harris Adacom is a Israeli organisation, the UK division was actually part of HAK BV on the continent. HA Finance will have nothing to do with any of this or with Network Systems, which has nothing to do with HAL. HA Finance has been possible thanks to a line of credit and it is described by Systems Networks as a major strategic move benefitting customers.
