Dicker Data and eXeed have broken off merger talks after failing to agree on terms of the agreement.
As reported in ARN, talks between Dicker owners, Fiona and David Dicker, and eXeed’s Michael Bosnar began more than three months ago, however, they irrevocably broke down, earlier this week.
The two parties have signed a non-disclosure agreement and would not reveal the nature of the dispute.
“All I can say is that we could not agree on merger terms and that Dicker Data is not going to be looking for another investor at this stage,” the distribution outfit’s managing director, Fiona Dicker, told ARN.
Confirming that the talks were off, Bosnar said he was disappointed with the outcome of the negotiations.
“We are very disappointed [the deal] didn’t go ahead, considering the amount of work and money invested in due diligence over the last few months,” he said. “It is not up to me to comment on what went wrong, but with negotiations like this one there’s always a risk that something will fall through – and it did.”
Bosnar said he would now focus on other investment opportunities.