Announcement

Collapse
No announcement yet.

Lithuania'S Acme Computer Components Buys Armenia's Maxtronic

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Lithuania'S Acme Computer Components Buys Armenia's Maxtronic

    LITHUANIA'S ACME COMPUTER COMPONENTS BUYS ARMENIA'S MAXTRONIC - DAILY

    Baltic News Service
    October 17, 2011 Monday 6:27 AM EET

    VILNIUS, Oct 17, BNS - Lithuania's computer component wholesaler
    Acme Computer Components (ACC) has purchased Armenia's networking
    equipment wholesaler Maxtronic for an undisclosed amount of money,
    the business daily Verslo Zinios reported on Monday.

    By expanding its product range, ACC expects to turn Maxtronic, which
    has until now only represented the Taiwanese networking equipment
    provider D-Link in Armenia, into the Caucasian country's largest
    computer equipment wholesaler in two to three years' time, it wrote.

    ACC Director Regimantas Buozius said that the company, which started
    its business in the Baltic countries, Georgia, Belarus and the Russian
    exclave of Kaliningrad "from scratch", decided to acquire an operating
    wholesaler in Armenia to make things faster.

    "Our previous experience in the Caucasus shows that an acquisition is
    a faster way of creating sales channels and working with new suppliers
    than starting a brand new business," Buozius said.

    "Also, the situation in the Caucasus and neighboring regions is
    similar to what we hade in the first half of the past decade, when
    companies had both wholesale and retail operations. In Armenia, we
    found a company that had only wholesale operations. Besides, Maxtronic
    itself was looking for a buyer. So we decided that it would be faster
    for us to develop additional products on the existing structure and
    base (around 200 customers)," he said.

    ACC posted 270 million litas (EUR 78.26 mln) in consolidated revenues
    for the three quarters of this year. It is targeting annual revenue
    growth of 35 percent, to 430 million litas, this year and of up to
    20 percent next year.

Working...
X