LONDON -- London-based Acal PLC is paying an initial $11.6 million for ATM Parts Company Ltd., a spare parts distributor for ATMs and cash dispensers, according to United Kingdom's AFX News.
Acal could pay an additional $5.8 million in two payments, depending on ATM Parts' performance during the years ending Aug. 31, 2002 and 2003, the release said.
ATM Parts, based in Hampshire, reported $13.2 million in sales and $1.9 million in pretax profit for the year ended Aug. 31, 2001. The company supplies spare parts to ATM suppliers IBM, AT&T, Interbold, Diebold and De La Rue/InterInnovation.
Acal provides sales and marketing services for international suppliers in the electronic components, IT products, IT parts services and industrial controls industries.
