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Muscat leaves MTD as company goes up for sale

Muscat leaves MTD as company goes up for sale

Multie Technology Distribution (MTD) general manager, Michael Muscat, has left the company after just six months. The news comes as parent company, Multiemedia, announced it was putting the hardware distributor up for sale.

An MTD staff member said Muscat had left just before Christmas, with Les Jessop taking the operational reins as acting general manager. Jessop was one of two founders of Magnafield, which became MTD after being acquired by Multiemedia in 2001.

Muscat joined MTD in July, following a 12-month hiatus from the IT channel. He had been forced to exit the industry as part of a non-competitive clause issued upon his departure from Bluechip Infotech. Muscat had been the boss at peripherals wholesaler, BBF, prior to its merger with Bluechip on January 1, 2004.

Speaking to ARN at the time of his MTD appointment, Muscat said his goal was to turn the distributor's fortunes around. Its revenues had halved to $17.2 million at the end of the 2004/2005 financial year, representing a loss of $548,000. Its new strategy had been to cut back on its number of vendor partners and focus on core product lines including Fujitsu servers, Panasonic, Verbatim and Upsonic UPS gear, he said.

According to an ASX statement, Multiemedia was now looking to sell its non-core assets in order to focus on its satellite services business. Along with MTD, the group was also planning to sell its in-store media division, Airworks Media.

"Sale of these assets will realise substantial cash and enable management to better focus on the satellite services strategy and growth opportunities," the statement read.

For more, check out next week's edition of ARN.


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