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.
“Insight and Choice/Force9 have similar business philosophies and we
believe the UK business community is primed for the introduction of
Insight’s successful model–outbound telephone sales to businesses,
supplemented by electronic commerce and highly targeted direct marketing,”
said Insight President Tim Crown.
“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.