Digital Equipment Corp has followed its own example in Germany last year by offloading its Kienzle Systems subsidiary in the UK to a management buyout (CI No 2,528). Terms of the agreement were not disclosed. All 50 employees will keep their positions and terms of employment within a new legal systems company, Axxia Systems Ltd, based in Reading, Berkshire. Digital and Axxia intend to continue working in partnership, where suitable. 3i Group Plc holds an undisclosed stake in the new company, though Kienzle’s former management has a controlling interest. The new company has 350 customers in the UK and does back office and accounting software applications for solicitors. It had turnover of ú6.7m last year when still part of DEC Axxia is said to be aiming for 10% growth per year.
