NZ-based Sealcorp buys Sourceware

NZ-based Sealcorp buys Sourceware

After months of speculation about the ownership of distributor Sourceware, it has now been announced that NZ-based Sealcorp has bought and absorbed the business. The Artarmon Sourceware premises will be closed and all business is to move to Sealcorp's office and warehouse in Lane Cove.

Sealcorp already distributes a range of products including ATI Technologies, Apex Data, Digi International, DataStorm and On Technologies. Most Sourceware lines will move across, including IBM (software and networking), Attachmate, Banksia, Microcom, Micrografx, D-Link, Tracker and Turbosoft.

Ferntree has been looking for a buyer for Sourceware since late last year, and there was even talk that Ingram Micro was tempted. Mike Ridgeway, CEO with Sealcorp parent Brocker Investment in New Zealand, says his company had been interested for quite a while because the two businesses were complementary and it was a good time for Sealcorp to grow in Australia. Sealcorp is the third largest distributor in NZ with 62 staff. The Australian office now has 22 staff.

Sourceware general manager Moheb Moses won't be moving to Sealcorp, and is finishing at Sourceware this week. He predicted the new Sealcorp would be very strong in the value-added comms/networking area. Ridgeway says the company will offer more support than Com Tech in service and added-value.

Continuing to run the new-look company is general manager Richard McLean. He noted with interest the recent consolidation in Australian IT distribution. "This is an excellent time for us to establish a new level of service relationships for our business partners." He also noted that Merisel had made noises about buying Sealcorp from Brocker around 18 months ago.

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