Persona acquires Top Log for pounds 20m

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Persona acquires Top Log for pounds 20m

Persona, the UK distributor of PC networking and communications products, is to buy Top Log, a Paris-based distributor of Unix and other network products for pounds 19.9m. The deal will be funded by a 17-for-20 rights issue at 225p to raise approximately pounds 21.1m. The cash call is to be underwritten by 3i Corporate Finance. Beeson Gregory is broker to the issue. The acquisition in effect doubles the size of Persona in terms of turnover and profit.

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