Redington Gulf FZE, a step down subsidiary of Redington (India) has entered into a definitive agreement to acquire 70% of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus). This proposed acquisition is subject to regulatory approvals of authorities in Turkey. Established in 1995, Linkplus is a leading ORACLE Distributor in Turkey. The balance 30% will be acquired over a 3 year period. The Company has been valued around 6X future earnings.
Redington (India) is engaged in the business of vendor-authorized end-to-end supply chain management of information technology (IT) hardware and software products. The company distributes a range of IT products, such as networking, storage, and enterprise products, as well as servers and software solutions.