Advantage Group Limited yesterday announced the formalisation of a partnership deal struck with Melbourne-based Symbol Technology distributor Leopard Systems. The deal is in keeping with Advantage's recent acquisitions of a series of New Zealand distributors specialising in handheld data capture devices and point-of-sale equipment.
Leopard's managing director, Peter Flett, said he was approached by Advantage Group representative Grant Dockery last November after taking full control of the company he co-founded in 1990. Flett claims Advantage's interest in his company was based on Leopard's bricks-and-mortar structure and record of profitability. He went on to suggest that the partnership was aided by Advantage's acquisition of Leopard's New Zealand-based counterpart Advantage Portable Technologies, formerly Computer Enhancements.
The 50 per cent stake in Leopard Systems, which Flett purchased from his long-time partner Jim Jefferys only last year, will cost Advantage Group Limited $500,000, and represents a significant foothold in the Australian wireless data management market. Flett appeared pleased with the deal, explaining that "the combination of both companies makes each stronger".
Advantage also announced it would increase its stake in Advantage Portable Technologies, from 50 per cent to 80 per cent, by issuing $2.8 million worth of shares.