April 8, 2020

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Logicom in talks with NewCytech

by Stuart Wilson, Friday 17 July 2009

Cyprus-quoted distribution outfit Logicom has announced that it has opened negotiations with NewCytech Business Solutions, with a view to acquiring the company. In a brief statement Logicom, which has more than 4,000 reseller customers spanning 20-plus countries in EMEA, confirmed that it had, ‘expressed its interest in acquiring all the issued shares of NewCytech Business Solutions’.

Negotiations have begun with NewCytech shareholders and Logicom will announce further details in due course. On its website NewCytech claims that it is one of the largest business IT companies in Cyprus offering a wide range of products and services.

NewCytech’s range of services includes storage and backup, security, disaster recovery, IP telephony and high availability among others. The company also offers IT outsourcing, consulting and project management, IT support and help desk services. The company also offers hardware and software from a number of major vendors including IBM, HP, Lenovo, Acer, Cisco, Microsoft and Oracle.

CE ANALYSIS: Why has an established international first tier distributor entered negotiations to acquire a reseller, integrator and IT services supplier based in Cyprus? Given the nature of NewCytech’s business activities and its geographic remit, it is highly likely that the company had an existing transactional relationship with Logicom. This existing relationship may hold the key to understanding the rationale behind these negotiations. Otherwise, it is difficult to see why Logicom would pursue this deal.

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