Tiny EIT Group Plc, formerly Maxiprint Plc, with annual turnover of just UKP1.2m, has made a recommended offer for Reading-based Sintrom Plc – annual turnover UKP28.6m – in a bid worth 17 pence a share, against a price in the market of 14 pence before the announcement, valuing the networking systems and peripherals company at UKP1.7m. EIT, under group chief executive Mike Burden, has also acquired Software Networks Ltd and its Automatic Switching Ltd subsidiary for UKP50,000 down and up to UKP500,000 more depending on future profits. EIT is also raising UKP2.3m via a placing of new shares and of 12% convertible redeemable unsecured loan stock. The London W3-based company already owns Intercom MS Ltd, a telecommunications software company whose key product is the Office Link message handling program, and Decisionware Ltd, with its Dynamo applications generator.
