ComputerCorp buys Paragon for $2.1M

Domenic Martino, chairman of ComputerCorp’s board, stated to the ASX, that the purchase price will be in the order of $2.1 million and will be payable subject to certain conditions.

These include; $1.6 million cash payment payable in tranches with the final payment due 4 May 2009; $0.5 million in shares through the issue of 11.7 million ComputerCorp shares at an issue price of four cents per share.

“ComputerCorp has been evaluating a number of opportunities to increase its size and achieve critical mass, specifically on the east coast,” said Martino.

“Earlier this year [it] concluded the purchase of Coretech in Brisbane, expanding its operations to 50 people.

“The acquisition of Paragon furthers the company’s strategy by strengthening its presence in Victoria.”

Paragon employs 10 sales and 20 qualified technical specialists and network support engineers.

The addition of the 20 engineering staff increases ComputerCorp’s billable engineers by around 25 percent.

Its technical and engineering staff broad certifications including; unified communications and TAP – Microsoft’s technical adoption program, stated Martino.

Paragon was established in 1988 by Bill Votsaris (currently CEO and executive director at Hyro), as way to address the growing market need for interconnectivity between computers and peripherals from different vendors.

Votsaris will be appointed to the Board of ComputerCorp, o nce the acquisition has been concluded.