History (1998): Procom Acquired German Distributor MegaByte

US provider of storage so1utions, Procom Technology, announced the acquisition of MegaByte Computerhandels AG, a distributor of management, storage and networking products in Munich, Germany.

Terms of the transaction were not disclosed.

MegaByte currently has offices in Munich and Hamburg and employs around 50 people.

A few days earlier, Procom, with 270 people, announced that based on preliminary estimates, the company will not meet analyst expectations for its second fiscal quarter ended January, 31, anticipating instead revenues in the range of only $23 to $24 million.

This article is an abstract of news published on issue 121 on February 1998 from the former paper version of Computer Data Storage Newsletter.