Data Logic Ltd has long looked surplus to Raytheon Co requirements, but the chance of a big flotation in London has receded with Raytheon’s announcement that it was selling part of the software and computer services business to the ambitious and hungry Vistec Group Plc for UKP2.5m cash (CI No 2,363). The bit that is going is Data Logic Communications Services Ltd or DLCS, which has assets of UKP3m and employs 120 people offering vendor-independent network and computer systems design, installation and maintenance services under the Netsure trade mark. It says that it took UKP2m of orders in 1992 and UKP3m in 1993. The audited accounts of Data Logic Ltd for the year to December 31 last will show that the division made a pre-tax loss of UKP1.059m before exceptional and non-recurring costs of UKP970,000 on a turnover of UKP6.8m. Vistec reckons that substantial restructuring of the division was carried out in the latter part of the year which resulted in considerable cost savings and a return to profitability. The Vistec directors say they have satisfied themselves that the division operated profitably during the last quarter of 1993 and the management accounts for the period since January 1 show maintained profitability. Net assets are put at UKP1.25m. Vistec is buying as part of its strategy to grow its computer services division not only organically but also by strategic acquisitions. It reckons Data Logic will enable it to extend its customer services – providing support and maintenance services for local and wide area networks, distributed servers and digital voice processors, and in network services – network design, systems integration and project management.
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