A potential deal that would have seen Nuvias acquire parts of ScanSource Europe has fallen through, sources close to the matter have told UC Today.
Nuvias was mooted to be one of the potentially multiple competitors eyeing up ScanSource Europe after the firm’s new owner seemingly started plans to wind the business down.
But a source told UC Today that a deal with Nuvias could not be completed quickly enough.
A driving factor behind the collapsed deal was thought to be ScanSource’s employee base but – with the entire UK workforce thought to be going through a redundancy process – the concern was a large chunk of staff, and associated skills, would have left before a deal could be signed.
UC Today understands the acquisition is now off the table, but negotiations are still open, and happening, for various quantities of stock.
If the market deems the value in a deal has gone the big question is – who will fill the gap left in the market by ScanSource?
Meanwhile, the ScanSource Europe brand has vanished from the internet, with the business seemingly renamed TexelPro.
The TexelPro website shows numbers for regions across Europe, with the number listed for the UK connecting to an automated message that states: “thank you for calling ScanSource”.
The scansource.eu web address now redirects to the website of cloud distie intY, which is still owned by the original ScanSource business.
This US-based firm offloaded ScanSource’s European operation to TenOaks Group at the end of last year.
The ScanSource Europe Twitter account is no longer live, but the LinkedIn profile has been changed to the new name. No new posts have been published for two weeks.
Read more about the ScanSource Europe saga by clicking here
Meanwhile, the main ScanSource business reported earnings yesterday, with sales down two per cent year on year to $810m.
The European business was briefly referenced in the press release and on the quarterly earnings call, but only to restate that it had been sold in November last year.
