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September 1, 1997updated 03 Sep 2016 7:30pm

NETWORK TECHNOLOGY HOPES FULL FLOTATION WILL AID EXPANSION

By CBR Staff Writer

Up and coming UK networking group Network Technology Plc has announced two new distribution agreements. The company, which has just moved off the Alternative Investment Market and started trading on the full London stock exchange, has struck deals with German company Allnet, and the Japanese Rikei Corp. Under the terms of the agreements, both organizations will distribute Network Technology’s Ringdale Products, with Rikei concentrating on Printserver products and Allnet dealing with ISDN and Router and Hub technologies. Allnet will work closely with Network Technology’s existing distribution company in Germany, Ringdale GmbH. The company is busy concentrating on its expansion process and is emphasizing the importance of a brand name – hence Ringdale. As a result of its transfer to the full London stock exchange, Network Technology has raised some 5.5m pounds which will be used for the research and development of a number of key technologies, although the company is not forthcoming with specifics. But founder and chief executive officer Klaus Bollman says he wants 80% of the company’s turnover to be generated from new products by next year, compared to its existing 10% generation. The company floated on AIM last year (CI No 2,944) and says it always had the intention of progressing to the full listing. Since then, at the end of last year, Network Technology reported up over 200% to 3.3m pounds, while revenue rose 70% to 14.5m pounds for the year (CI No 3,050).

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