Imagetext Publishing Systems has announced it will buy the Auckland branch of Apple reseller CDL from Triumph Industries
The sale is a further move by Triumph to reorganise its operations into concentrating on its distribution business. The group will soon to be renamed Renaissance Corporation.
The deal was done for an undisclosed sum, which included a goodwill payment.CDL’s Wellington operations are unaffected and remain part of Triumph Industries.
Peter Harris, Auckland-based general manager of Imagetext, says the company is also in the process of buying a number of other companies to enhance Imagetext’s standing as a publishing solutions provider,but says he can’t elaborate further.
“We have purchased CDL Auckland and have options on another two companies to purchase them. We are also in the final stages of a significant deal with another company which we hope to be able to announce details of by next week or the end of this week.”
Harris says CDL will continue running as it is for the next few weeks and that there are plans to move Imagetext staff into CDL premises but not immediately. Harris says there has been no discussion as yet on whether Imagetext will change its name to reflect its incorporation of CDL, because there hasn’t been any time.
“We bought CDL because it is a good fit. We are confident we can add a lot to what we do and provide greater expertise to our customers. CDL is primarily an Apple reseller but we are particularly interested in enhancing its publishing and business activities.”
Imagetext will honour all the servicing agreements negotiated with CDL prior to the takeover. Imagetext will take over CDL Auckland's service contract obligations from May 1, 1997. All companies and individuals who have current prepaid service contracts with CDL Auckland will now have those contracts transferred to Imagetext.
For Triumph, the move means that the group has further re-organised to focus on its computer hardware and software distribution business.
Triumph Industries’ managing director, Trevor Grey, says its distribution subsidiary, Renaissance Limited, is the major contributor to Triumph’s revenues, but that it will continue to operate CDL Wellington, together with our other computer retailing operations, for the foreseeable future.
Grey says he’s very pleased with Imagetext's commitment to CDL Auckland's clients through taking over all existing service contracts, and believes all parties and customers will benefit from the transaction.