Reseller Memory Computer Systems Plc, headquartered in Dublin, with a UK subsidiary in Potters Bar, Hertfordshire, is being split in to two separate companies this week following a management buyout of the Irish operation by two directors. Unlisted Securities Market trading in the shares was suspended at 7.5 pence on Monday ahead of the announcement. Both companies will continue operating under the Memory Computer Systems logo. According to David Stern, chief executive of the English arm, Memory’s business is fairly evenly divided between the UK, and the now privately-held Irish operation, and he expects the firm – in the UK at least – to carry on much as before. However, now Memory is but a shadow of its former self, the possibility of a bid cannot be ruled out given a hungry market which makes small fish look extremely vulnerable. Evans stresses that although it has no desire to be acquired, the company is looking for opportunities. Memory, which sells on Prime and Unisys’ Convergent hardware, was also involved in Sphinx Ltd’s International Consortium for Open Software.
