Brocker Technology merger underway

Brocker Technology merger underway

The merger between the US parent company of distributor Brocker Technology Group (Brocker Technology) and Asia-Pacific-based holding company Littauer Technologies is unlikely to affect Brocker's Australian channel partners for at least 12 months, according to the company's general manager, Chris Spring.

"We don't expect the due diligence to be completed until May," Spring said. "While we are very interested in the deal going ahead, it is in the preliminary stages and we won't know about the final shape of the contract until March or April."

According to Spring, the merger is strategic for both parties. Brocker is seeking a wedge into the lucrative US market through Littauer's B2B software offerings, while Littauer will gain Brocker's highly prized Nasdaq listing.

In a complex share swap deal announced on Brocker's US Web site late last year, the Nasdaq-listed parent company of Australia's Brocker Technology Group the company is set to make Littauer chairman Charles Spackman majority shareholder of the resulting company.

According to a December statement, Brocker will acquire, from The Littauer Group, 25 per cent of the issued capital of Littauer, valued at approximately $US45million.

In turn, Brocker will issue shares representing between 55 and 67 per cent of the US-based company, providing Spackman with a controlling interest in Brocker.

Littauer Technologies has already amassed a vast stable of IT interests stretching across the globe, which includes companies such as Ericsson, Hutchison Whampoa, Netcentric Partners, Odeon Capital and Korea Technology Investment.

According to the US Brocker Web site, the market capitalisation of Littauer Technologies is approximately $US160 million, based on its closing price on the Korean-based IT stock market, the Kosdaq.

Photograph: Brocker Technology Australia GM Chris Spring.

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