Computer 2000 parent agrees to acquire loss-making giant Scribona

Computer 2000's parent, Tech Data, has swelled its Scandinavian business with the purchase of the region’s largest indigenous broadline distributor – Scribona.

Scribona, which employs about 300 staff across Sweden, Finland and Norway, initiated a formal bid evaluation process in December. The Stockholm-listed giant had been labouring under losses for a prolonged period and recently closed its Danish operation.

The duo have signed an asset purchase agreement that will result in the transfer of essentially all of Scribona’s operating activities. Scribona’s board of directors has unanimously recommended the deal to Scribona’s shareholders.

Scribona makes annual revenues of around SK9bn (£736m). Tech Data said the combination would make it the leading value-added distributor in the region.

Tech Data will pay net asset value, plus a premium for Scribona’s operational assets, which will be in the range of €13.5m to €16.5m, depending upon certain performance criteria.

Fredrik Berglund, chief executive of Scribona, said: “We announced back in December that we were in discussions with a number of unnamed parties who had indicated an interest in the company.

“We have been focusing on the operational reorganisation of the company in order to enhance our position in increasingly competitive markets. The combination of the Scribona and Tech Data businesses will create a strong IT industry player with the market reach to develop further.”

Robert Dutkowsky, chief executive of Tech Data, said: “This combination will provide Tech Data’s new and existing customers access to an extended portfolio of vendor partners including an expanded suite of value-added hardware and software business solutions.”