Bracknell, Berkshire-based disaster recovery provider Safetynet Plc has come to the rescue of one more company in difficulty, PSL Ltd, by buying it for an undisclosed sum. PSL, a London-based dealing room disaster recovery company, formerly DSL Ltd, was part of the DSL Group, which split its business into separate software and disaster recovery companies in March of this year (CI No 2,630). It had been in dealing room recovery since 1992, with an IBM Corp AS/400 at its South London location, but employed only one full-time member of staff at the time of the deal. Safetynet, which is 20% owned by Reuters Holdings Plc, provides disaster recovery for IBM mid-range systems, and services include a dealing room operation in the City of London and recovery for networked Reuters terminals. Group commercial director Paul Barry Walsh said the deal had brought in around 10 new clients and given the com pany a third UK location. He added that PSL had been in some financial difficulty and the deal had suited both parties. Safetynet was established in 1987 and has, Walsh said, shown net growth of at least 30% every year. It bought Birmingham-based JBA Computers Ltd’s Phoenix disaster recovery business in 1991 (CI No 1,590) and Comdisco Inc’s Systems On Site Ltd in 1993 (CI No 2,284); it will continue to buy where appropriate.
