European technology distributor, Midwich Group, has taken its first step outside its local market, buying the majority shares of Australian video and data display technology provider, Image Design Technology (IDT).
The acquisition, effective August 1, was a private deal and neither company is disclosing the figures, according to a statement by IDT representatives.
Midwich managing director, Stephen Fenby, said that Midwich was impressed by the IDT portfolio, brand, and reputation. He added that the two have similarities in ethos.
According to IDT founder and managing director, Gerry Wilkins, the acquisition enables IDT to tap into the resources and expertise of a global company while retaining its local services and investment.
“Our partnership with Midwich allows us to expand our product offering and act as a one-stop shop for our customers’ audio and visual needs,” Wilkins said. “The acquisition will also help us increase our investment into the local marketplace, from adding technical resources, improved stock levels, marketing materials and training programmes.”
Wilkins also said that the acquisition is a win for IDT’s local channel and current employees, and believes that local vendors can expect larger transactions to pass through their channels.