Damgaard has developed two accounting packages that are marketed by IBM: Concorde XAL and a new suite, Axapta, which was launched in the UK last month.
According to a Damgaard spokeswoman, Preben and Erik Damgaard were frustrated that IBM was not moving fast enough to promote the company’s products.
‘We live and die with Axapta and Concorde XAL,’ she said. ‘We would have liked IBM to put more effort into it. Buying the shares back means we can move faster.’
Damgaard has opened an office in Coventry and brought in Otto Standvig from its German subsidiary as UK manager. Until now, the UK has been a disappointing market for Damgaard and recruiting new resellers will be a top priority, said the spokeswoman.
The break with IBM is amicable, she added. ‘What IBM did was give us the international platform. They built the reseller channel, which we couldn’t have done alone.’ Damgaard will continue to work with IBM as one of its ‘advanced alliance members’.
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