Harrogate, UK-based InTechnology said it would pay up to 1m pounds ($1.8m) for the network security business, with 100,000 pounds ($180,000) of that conditional on the unit’s performance over the next 12 months. InTechnology’s CEO Charles Cameron said the acquisition is expected to be earnings enhancing in the first full year of ownership.
For Bracknell, UK-based NetStore, the disposal is last in a series of sales over the last two years that CEO Neil Lloyd described as non-core. The training unit was part of the managed security services firm NetConnect which NetStore bought in March 2003 for 2.3m pounds ($4.2m).
