Intechnology Share Discussion Threads

[beckaroo] 26/10/2003 17:09

Separate to this I see Intechnology have also laid off a lot of managers from Allasso (search for Intechnology on vnunet.com). Seems like a risky strategy to me, although i am still in cos' the growth in the next year seems like it will be big.

From vnunet.com



InTechnology plans attack on Europe
By Karl Flinders [29-09-2003]
Storage distie embarks on bullish growth strategy following £25m acquisition of Allasso


UK storage distributor InTechnology is embarking on a bullish strategy of European growth following its £25m acquisition of Allasso.
The firm is aiming to turn over about 0.5bn euros within a few years, up from its current turnover of €385m (£266m).

Steve Pearce, chief operating officer at InTechnology, said that to achieve this growth, the firm is planning aggressive expansion into Europe.

Pearce said the acquisition last year of Articon-Integralis's distribution arm would give the company a ready-made pan-European business.

Last week he told CRN: "If we had tried to get into Europe without this [acquisition], it would have been impossible because we would have had to start from scratch.

"The combination of growing our UK storage and Allasso's security businesses organically and taking our storage offering into Europe could make us a €0.5bn company within a few years," he said.

InTechnology is in negotiations with its UK storage ven-dor partners about extending relationships into continental Europe.

Brian Pierce, analyst at IDC, said InTechnology will be in a good position when the IT market picks up.

"Manufacturers are looking for skilled partners in the channel to sell and support their offering, particularly on a pan-European basis," he said.

[charles7] 14/10/2003 09:07

mad4IT

Glad of the company gets lonely on here!

lol

:-)

A bit confused about the spread, it has been a lot narrower at times, it could be good news in that the mm's are frightened of getting caught out on good news with results.

[mad4it] 14/10/2003 08:52

Main problem here Charley boy is the iffy spread, a limit order is o.k. for entry but if you need to get out quickly you're stuffed. However you've got yourself an encouraging, (if a bit lumpy), uptrend developing, so I'll keep an eye out for results.

Good luck.

[charles7] 14/10/2003 08:31

RNS Number:8534Q
InTechnology PLC
14 October 2003

14 October 2003



InTechnology plc ("InTechnology" or the "Company")


Board change


Following the successful integration of Allasso into InTechnology, Philippe
Dambrine, the previous President of the Allasso Group, will be stepping down
from the board of InTechnology and leaving the Company in the near future.

In early November Allasso UK will become a division within InTechnology plc, but
trading under the Allasso brand. The continental European operations of Allasso
will remain unchanged, but reporting to Frederic Ordronneau, who will assume
Philippe's previous responsibilities for Allasso, excluding the UK.

The Board of InTechnology would like to express its appreciation to Philippe for
his help with the integration.

InTechnology will announce its interim results for the six months ended 30
September 2003 on Tuesday 11 November 2003.

[charles7] 11/10/2003 18:34

OK folks!

I'll give up talking to myself.

Good luck all!

C7

[charles7] 10/10/2003 19:59

OK I'll start the bidding:

1) 1p spread recently

2) 6p spread now

3) 2.5p increase in price, but bid still 68p.

Surely this must mean that this is an incredibly attractive share, mm's need people to sell, as they need stock, as the offer price is so high.

C'mon somebody, tell me I am being a complete pr*t, or tell us all the real story.

[charles7] 10/10/2003 18:50

This is a good story, what is going on? What's with this spread, asked lodsa times with no response! I cannot believe I am the only one that has researched this and the only significant holder of stock! Interims due 12/11/03, anyone awake out here? Is this a conspirency of silence, if so why?

10th June 2003

InTechnology plc

Results for the year ended 31 March 2003

InTechnology plc ("InTechnology" or "the Company"), the UK's leading provider of data storage solutions and services, announces preliminary results for the year ended 31 March 2003.

Financial highlights
· Turnover marginally lower at £156.9m (2002: £158.1m)
§ Turnover from Storage Solutions and Services ("SSS") Division of £148.7m (2002: £154.0m)
§ Turnover from Managed Data Services ("MDS") Division increased to £8.2m (2002: £4.1m)
· MDS cumulative contract wins of £40m (2002: £22m), which will generate £10.5m of recurring revenue per annum (2002: £6.9m)
· Gross profit increased to £23.3m (2002: £22.3m) resulting in gross margin of 14.8% (2002: 14.1%)
· Total operating loss of £6.6m (2002: £82.7m)
· Operating loss before amortisation of goodwill and exceptional items of £0.9m (2002: £0.8m)
· EBITDA pre-exceptional items increased to £3.9m (2002: £2.8m)
· Balance sheet remains strong with cash reserves of £18.2m (2002: £23.3m) and net cash of £10.0m (2002: £13.7m)
Operational highlights
· Volume of data storage products sold has increased, although prices have continued to decline during the second half; increased market share
· Successful ongoing cost control, including closure of loss-making German subsidiary
· Experiencing higher levels of activity within the MDS Division compared to six months ago; significant new customer wins in the public and private sectors including Harvey Nichols, The Department for Transport, Scottish Enterprise and WS Atkins
· Benefits of the UK-wide high bandwidth communications network are beginning to be felt
· Pilot programme for a long-term data storage service progressing well
· Proposed acquisition of Allasso adds European distribution and access to expanding security market

Commenting on the results, Charles Cameron, CEO of InTechnology said:
"These results are a reflection of InTechnology's ability to maximise its performance and increase profitability at a time of intense industry pricing pressure. We continue to generate cash from operating activities, our MDS Division is attracting an increasing volume of high quality customers and, with the pending acquisition of Allasso, we look forward to resuming top line growth."

[charles7] 10/10/2003 10:42

Why such a large spread.......... anyone??????????/

[charles7] 28/9/2003 15:01

Just a reminder, this company is really worth a look IMHO DYOR:

RNS Number:3901O
InTechnology PLC
06 August 2003

6 August 2003



InTechnology plc

AGM Statement



At this morning's 11am Annual General Meeting, Peter Wilkinson, Executive
Chairman of InTechnology, gave the following update on current trading:



"Our Storage Solutions and Services business is trading in line with
management's expectations for the full year, despite the continuation of tough
conditions over the last year. Our Managed Data Services division continues to
grow at an encouraging rate and has recently secured a number of high profile
clients in the public as well as private sector. This division has now reached
a level of approximately #45m of cumulative contracts won. As announced last
week, the acquisition of Allasso has now completed and Allasso is also trading
broadly in line with our expectations."



At a Board Meeting following the AGM, the Board approved the formal appointment
of Philippe Marie Jacques Dambrine to the Board as Director, Allasso Division.
In terms of directorships held in the last five years, Philippe, aged 51, was
previously President of Allasso from February 2002, when he became a director of
Articon-Integralis, and brings over 20 years of IT sector experience to the
Group. From 1997 through 2000 Philippe was CEO and President of Racer Finance,
overseeing the management buy-out, re-organisation and development of its
security distribution business (trading as Newlink) and Cirel. He was
responsible for the acquisition of Safedata and the sale of Newlink to
Articon-Integralis in July 2000. He was also Chairman of Cirel (until acquired
by Bintec in 1999) and Safedata (until acquired by Activcard in 2001). On 31
July 2003, Philippe stood down as a director of Articon-Integralis.

[charles7] 19/8/2003 15:25

Another 4p up!

[charles7] 15/8/2003 15:41

Just a reminder:



Anyone any idea why the spread on this is so big? Would like to buy more,but put off by the spread.

C7

[irresponsible] 06/8/2003 13:04

Nice trading statement just out.

[charles7] 05/8/2003 15:41

Can get 63.8 to buy on imiweb. Those 61.5 (290,000) could be buys, but hard to tell on this spread. Anyone know the reason why (apart from a short period not long ago!!) these have such a wide spread all the time?

[matthewa] 05/8/2003 15:29

charles7 - Watching with intrest also. Mickey mouse spread prohibiting me from taking a positon also.

[charles7] 05/8/2003 15:27

Some activity ahead of tomorrow's AGM and nudge up. Good news anyone? Spread narrowing, but still too wide for me.

[beckaroo] 19/7/2003 21:48

Looks like the takeover is already improving business at Allasso..(from vnunet.com)

Allasso wins Sun deal
By Karl Flinders [23-06-2003]
Security distie adds Sun iForce mid-range server to its portfolio

Sun has surprised the channel by naming Allasso as its latest distributor, in a move to reach more resellers and support its billion-dollar European channel push.
The specialist security distributor will add the Sun iForce mid-range general-purpose server to its portfolio.

Allasso was seen as a complementary partner because of its relationship with security value-add resellers as well as its niche skills set, said Sun.

The distributor adds a new dimension to the Sun's distribution tier, according to Chris Safas, sales manager for enterprise channel partners at the vendor.

"We will reach new resellers as well as offer new services to existing partners through Allasso," he said.

The iForce's compatibility with software from Check Point was key in Sun's decision to choose Allasso. "We want to develop a server appliance with security built in, and Allasso offers us capabilities in this area."

Colin Macadam, European operations director at Allasso, confirmed that the companies are in discussions about the distribution of the appliance across Europe.

"We are looking at all the elements needed for value-add distribution of this product, including sales, technical and marketing support," he said.

This follows Sun's recent announcement that it will create $1bn worth of new business through the European channel over the next three years. Allasso will give Sun Access to about 6,000 resellers across the continent.

Simon Welch, marketing director at Sun distributor Clarity, said any move to increase the profile of Sun in the mid-market would be good news for the channel.

"The products [that Allasso will distribute] are aimed at customers that are not familiar with Sun and so it will support the vendor in reaching a wider customer base," he added.

Sun already sells through distributor InTechnology, which is in the process of acquiring Allasso.

The distributor's shareholders meet in Germany today to vote on the proposed take-over by InTechnology.

One source close to the company said the deal is expected to gain the support of at least 95 per cent of shareholders. But under German law small shareholders have a major say, he added.

[charles7] 10/7/2003 20:06

Gosh things must be 'dead' on the bb's at the moment if this moves +ve and nobody comments!

[charles7] 10/7/2003 11:59

Spread narrowing at last!!!!!!!!

[affc21] 22/4/2003 15:43

Sunday express tip-more info:

Data storage company InTechnology has just bought network security business Allasso. Dresdner Kleinwort Wasserstein has hiked revenue expectations from £175.2 million to £249.7 million and sees a doubling in profitability to £7.2 million as a result of the deal. A strong buy at 52p.

[paulmbutler] 22/4/2003 11:47

Sunday express tip. It said recent acquisition would double turnover - good buy.

[onceaplayer] 22/4/2003 11:25

Recent article on Peter Wilkinson in Real busineess (i think). Good exposure for ITO

[toulston] 22/4/2003 10:30

What paper was it in, thanks in advance?

[dina] 21/4/2003 10:07

Tipped yesterday as "STRONG BUY" - Anybody know why?

[jonny walker] 05/2/2003 09:59

Intechnology - falls on tough trading

[hightone] 04/2/2003 20:52

ditto somthing amiss if you ask me but what i dont know.

HT.