The Channel logo

News

By | John Oates 3rd May 2005 11:24

Interregnum saves ITM Group from the knacker's yard

Hoovers up bust AV reseller

Interregnum is buying ITM Group, the bust audio visual reseller, through its subsidiary Audio Visual Machines Ltd.

The deal covers ITM’s order book, debts and key staff including the MD of the auDiio visual division. Interregnum expects the takeover to boost AVM’s revenues by about £2m over the next twelve months.

Martin Cooper, finance director at Interregnum, told El Reg: “There are lots of people doing basic kit installs for audio-visual equipment but we will offer more integrated AV services for boardrooms.”

Cooper said about ten people would keep their jobs as a result of the deal. He explained that AV was a subset of ITM’s overall business.

ITM Group went into administration on 15 April. Financial backers withdrew their support after the firm brought in only half of its expected annual turnover. Despite turnover of £10m the firm could not meet costs.

Interregnum is a small London-based investment bank which specialises in M&A advice for IT firms. It also makes investments on its own account, most recently folding two wireless networking firms it owned into a bigger rival Red-M, which then floated on AIM. ®

Related stories

Administrators take over at ITM Group
Interregnum makes three into one
Sony channel gets united

alert Send corrections

Opinion

Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead
Satya Nadella
cloud computing Fight

Features

Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany
Inside the Google Lab where surgeons prepare the human/dog experiment
Big Blue exec tells El Reg what to keep an eye on