Horizon receives takeover approach

Distributor and reseller confirms to Stock Exchange that it has received an approach that 'may or may not lead to an offer'

Written by Sara Yirrell

CRN, 13 Mar 2008

The Board of distribution group Horizon Technology Group has confirmed it has received an approach from an unnamed company, which it said may or may not lead to an acquisition offer.

In a statement to the Stock Exchange, the firm said shareholders should note that the approach is "preliminary in nature and is subject to a number of conditions......no assurances can be given that a formal offer will be forthcoming or that any transaction will occur."

Simon Welch, marketing director at Horizon, told CRN: "Horizon would be a great organisation to buy, particularly because of the contracts that we have in place, which are a dream ticket for any distribution organisation.

"Our unique proposition will add value to any distributor that wants to include value distribution as part of their offering."

Within the trade itself - Avnet, Arrow, Tech Data and Ingram Micro are among the firms capable of putting in a bid.

In separate news:

Horizon Software, a division of Horizon UK Group, is extending its reach to Scotland to help Oracle further develop its channel in the region.

As part of Horizon UK Group, the software division supports Oracle in its key technologies including Oracle database, database security and identity management, business intelligence and Oracle’s SOA suite.

The partnership will involve Horizon Software providing a dedicated account manager to provide support to VARs in the country.

Mickey Bharat, director of Horizon Software, said: “As a strategic Oracle partner, setting up in Scotland is a natural development. We can provide specialised services to the partner community in sales, marketing, technical and delivery skills to help Scottish companies develop their products and take them to market. Working in this environment is a win-win situation for everyone.”

Eddie Chance, regional director of Oracle Scotland, said: “Oracle is com mitted to supporting companies in Scotland with our enterprise-ready products and services, because our experience shows that organisations with the right IT infrastructure in place are better placed to scale and grow in the global economy. We are delighted that Horizon has decided to build on its existing relationship with Oracle by extending its presence into Scotland, because it will bring new expertise and experience to our customers that will help them take advantage of Oracle solutions.”