tinglobal news : 01.04.08

Tinglobal has announced today the acquisition of 100% of the share capital of Powercore International and Powercore SAS in France for an undisclosed sum.

Powercore is an independent midrange hardware trade house also providing contracted hardware and support services to resellers and service companies with revenues in excess of £9M. Powercore employs 40 staff with offices in London, France and Poland.

The acquisition complements tinglobal’s existing primary investment, tindirect, an international business to business channel provider of refurbished, midrange IT infrastructure and services across the IBM, SUN, Cisco and HP platforms.

The vendor Daren Bland expressed his delight that the company he had founded and built up since 1994 would be in safe hands with tinglobal. He will remain active in a company called Recarta IT that he is buying out of the Powercore Group. This is an independent computer consultancy focusing on the SMB end user market place.

Tinglobal’s chairman David Gutteridge remarked that ‘both tindirect and Powercore have extremely strong brand identities in the channel. Though both adopt an unequivocal partner focused strategy with no end user engagement, the strengths of the two companies are remarkably complementary.’

“Both companies will continue to operate with their existing management teams and trade independently,” continued Mat Jordan, Sales Director of tinglobal.

“The acquisition marks in no uncertain terms our intention to progress toward our goal of being acknowledged as Europe’s leading supplier of used hardware solutions and services.”

The acquisition of Powercore enhances tinglobal’s existing services and inventory management solutions, providing greater technical, training and engineering support.

Managing Director Rod Haddrell emphasized that tinglobal would focus increasingly on growing tinservices, the services arm of the business which offers installation, engineering training and specialist inventory management. These services demonstrate how we are widening our product offering to ensure that we are the first choice supplier to the major channel participants.

The group’s combined revenues are expected to be in excess of £25m, consolidating tinglobal as one of Europe’s largest independent midrange hardware, parts and associated service providers.