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Insight buys Action second time around
A lot cheaper this time
Insight Enterprises, the US direct marketing IT giant, will leapfrog to top spot in the UK, following the agreed takeover of Action Computer Supplies for £27m in cash.
Insight says the acquisition will be accretive to earnings in 2002. Insight already operates in the UK and in Germany, and is building up a European headquarters in - of all places, Sheffield, in South Yorkshire.
Action has been in play effectively since the last time that Insight wanted to buy the company - in 1999. That deal collapsed in October 1999 because of a deterioration in Action's trading, which made Insight nervous to the extent of walking away. The wait has saved Insight an awful lot of money. In May 1999, Insight made an agreed $150m bid for Action. ®