Insight Acquires Choice Peripherals in U.K.
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Additionally, Insight has acquired a related Choice company, Plusnet Technologies Limited, doing business as Force9, an Internet Service Provider and Web site hosting/development company.
Under the terms of the agreements, Insight will acquire 100% of Choice and 85% of Force9 for approximately $2.9 million in cash and $3.3 million in Insight stock, with additional consideration contingent on profitability over the next three years.
Choice, based in Worksop, England, was founded in 1992 and is currently one of the UK's leading computer direct marketing companies. Choice's net sales for the year ended Dec. 31, 1997 were in excess of $60 million. Both Choice and Force9 are privately held and have common ownership and management.
"Choice has the infrastructure, management team, culture and market presence to implement that model. This gives us an immediate foothold into the second largest information technology market in Europe."
Insight is a direct marketer of computers, hardware and software, offering a broad line of more than 50,000 computer products primarily to businesses throughout the United States and Canada. Products are sold by a staff of customer-dedicated account executives and via the Internet at ww.insight.com. The company's net sales for the year ended Dec. 31, 1997 were $627.7 million.