Miles 33 Plc has, as reported briefly Friday (CI No 741) made its first acquisition since it was itself bought by UEI Group Plc in April (CI No 661), paying an undisclosed cash sum for Tewkesbury, Gloucestershire-based Pagitek Ltd. The two companies appear to be a good fit. Miles 33’s main business is the black and white text and graphics processing System 400 for the book printing and publishing industries, while Pagitek specialises in smaller systems, in the UKP15,000 to UKP50,000 range, aimed at magazines and newspapers. As well as providing Miles 33 with a low-end single and small multi-user capability Pagitek also brings 40 staff; a direct sales force; a network of overseas distributors, including in the US where Miles 33 has only this year started to gain orders; and a profitable turnover of UKP2m. According to Miles 33 managing director Jon Richards, the new acquisition will be operate as a division of Miles 33. Despite its own take over, Miles 33 still operates as an independent concern. Richards and Miles 33 finance director Alexander Yew will join the board of Pagitek.
