SCC has bought up a bit of a loss-making French IT reseller. The bit is described as the "principal region – Île de France" - of Arés, along with 130 techies.
SCC is integrating the business into SCC in France immediately. The firm claims revenues of €1.1bn in France and employs 2000 people in 24 locations. Terms of the acquisition are undisclosed, but parent company SCH's previous form shows that it likes fire sales. Earlier this month, it bought a fairly big UK distie, Interface, for just £2m.
Group Arés is a quoted company so its deal price may come to light later. But the firm, which has - or had - about 1800 staffers, is not doing well - sales are going backwards and losses are climbing.
And now for a quote from Sir Peter Rigby, SCC’s chairman, CEO and owner: “In spite of the tough economic conditions, as a private company, we consistently look to the future. We have always taken the opportunity to acquire good businesses with a good customer base and good people. Even when others are focusing on the short term and are less prepared to make bold moves, I believe this industry demands you take a long term view of the market, your capabilities and your customers’ requirements.” ®