Express Data has been sold, with Australian distributor Dicker Data announcing its acquisition of the company today.
In an announcement to the Australian Stock Exchange this morning, Dicker Data said it has entered into a share purchase agreement to acquire 100% of the issued capital of Express Data Holdings, with the acquisition including both the Australian and New Zealand operations, and Express Online.
Dicker Data is a long-standing Australian distributor, whose portfolio includes HP, Toshiba, Asus, Lenovo and Microsoft among others.
In a letter to resellers posted on Dicker Data's site, David Dicker, Dicker Data chief executive, says Express Data's operations will be integrated into Dicker Data 'as quickly as we can' after the completion of the deal on April 01.
“As you can imagine, I am extremely happy with this result,” Dicker says.
“There is almost no product overlap between the two companies, so we are in a position to make our relationships with you considerably broader and stronger,” he adds.
The deal is scheduled to complete on April 01, subject to certain conditions being met. An extraordinary general meeting has been called for Dicker Data shareholders, expected to take place in mid-March.
Last month Phil Presnall, Express Data New Zealand general manager of sales and marketing, told The Channel that the 2013 financial year, ending 30 September, had been the company's biggest ever here, with revenue from sale of goods sitting at $138.7 million and the company experiencing double digit growth through Q1 of F14.