Pinnacle Data Systems, Inc. (PDSi) (AMEX: PNS), announced it has executed a non-binding letter of intent to acquire the stock of privately held Aspan Computer Repair Laboratories B.V. (Aspan), located near Amsterdam, The Netherlands. Terms of the transaction were not announced. Aspan will become an integral part of PDSi’s global infrastructure following completion of the acquisition, which is expected to occur early in 2007.
Michael R. Sayre, President and CEO of PDSi, commented, “Aspan’s established capabilities and corporate culture are a solid fit for our company. They were founded in 1993 and, like PDSi, offer extensive high-end computer-related repair and logistics services for the world’s largest Original Equipment Manufacturers (OEM) whose products utilize computer technologies. We continue to review strategic growth opportunities to gain improved leverage for our customers and our business. Upon completion of this acquisition, PDSi will be positioned to benefit from stronger regional coverage and new growth opportunities through European-based management and an operating facility that will serve as our base for Europe, the Middle East and North Africa.”
“As a major supplier to global OEMs, our customers are asking PDSi to support strategic business functions in their local operating regions. Aspan is a key component of our international expansion plans to satisfy these needs”, stated Rob Harris, Vice President of Global Sales and Marketing and General Manager of International Business.
PDSi provides product lifecycle service solutions to Original Equipment Manufacturers (OEMs) in the medical, telecommunications, defense, imaging and computer equipment industries, among others. PDSi offers a full range of computer and computer-related product development and manufacturing services to increase product speed to market and engineered product life, and service and support solutions for units in the field through comprehensive product lifecycle management programs encompassing depot repair, advanced exchange, contact center support and end-of-life control.