Future's past - Senteq absorbs Future Technologies
- 16 July, 1997 14:20
As of August 1, Future Technologies will cease to exist, as reseller's operations are absorbed into its parent, Senteq Information Systems. The move is the end of a turbulent period for FT, which was purchased by Senteq in 1996 after a period of administration.
Until now Senteq had operated Future Tech as a separate entity. Senteq CEO Jonathon Fisk said he chose to wait until now to merge the two organisations in order to best service both companies' clients. At the time of the purchase Fisk had been keen to assure customers that Senteq would not fundamentally change the business.
Merging and moving
Future Tech was originally placed in admin-istration by major creditor Compaq after the company ran into financial problems in 1996.
While Fisk declined to comment on Future Tech's financial performance since the takeover, industry sources claim that it has returned a profit in fewer months than it has returned a loss.
The merger sees staff from Future Tech's Sydney CBD location moving to a refurbished Senteq headquarters in St Leonards. Fisk said Senteq has maintained the majority of Future Technology's staff, although former general manager Kit Craig has taken on the role of vendor alliance manager with systems integrator Netbridge (formerly AMS Communications).
Fisk said that on the whole Future Tech's customers have been happy with the change, and will now benefit from the greater technical resources and breadth of experience that Senteq can offer.
He said Senteq has also been reaping the rewards of membership of worldwide systems and integration organisation The Global Alliance. Senteq joined the multinational cooperative early this year, and in that time has enjoyed revenues in the millions of dollars as a result of the relationship, Fisk said.