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July 28, 1997updated 05 Sep 2016 12:31pm

NETWORK TECHNOLOGY BUYS ITS SECOND US COMPANY

By CBR Staff Writer

Network Technology Plc, the ambitious UK star of the Alternative Investment Market, has acquired its second US company. The networking group has signed non-binding heads of agreement to purchase the entire share capital of Georgetown, Texas electronic cable and printed circuit board manufacturer, Nextus Inc for $250,000 worth of shares and $375,000 in cash. Last December the company spent $4.8m on Austin, Texas-based printer controller manufacturer JRL Systems Inc (CI No 3,067). The new purchase brings the group up to six constituent companies with a total of 270 employees. Last year Network Technology made about 140,000 print servers and hubs in the UK and expects to ship in excess of 200,000 this year. The new firm gives the company a US-based manufacturing facility, which will also take overflow from the UK. It will continue with its push into the US market but will also focus on business in Japan. According to the company’s founder and chief executive officer Klaus Bollmann, the group supplies 80% of Japan’s internal print servers. Bollmann says the company has only acquired small companies with strong management and says it is not yet cash generative enough to have a strict acquisition strategy in place. He anticipates it will be up to speed within a year or two, enabling it to expand further.

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