Systems Reliability Holdings Plc has finally disposed of its dealer and systems house subsidiary, Corporate Computers Plc. The Chelmsford, Essex-based company has been acquired by VRG-Groep NV of Amsterdam for UKP13m – UKP9m of that will be paid in cash, UKP1m is on an earnout basis, and the remainder represents assumption of debt. The Dutch firm distributes graphic and business communication products, and Corporate Computers will join its Business Systems division. Gerry Redman, managing director of Corporate Computers, says that the new parent provides a stepping stone into continental Europe and the US. Systems Reliability was rumoured to be looking for something in the region of UKP15m, and also hinted at the possibility of maintaining a minority stake (CI No 1,422). That hasn’t happened, but the sale does leave it free to pursue its mainframe and maintenance activities.
