Acquisitive computer group Chase Technology Group plc has taken over the business
of SkyTrak, one of the UK's leading suppliers of flight planning and briefing systems.
The acquisition through its subsidiary company, Chase Aviation Systems plc, will see
major investment in infrastructure and development for the SkyTrak products,
including the relational aeronautical information database and the weather and
navigational warning systems.
The briefing system is currently in use at London Heathrow, London Luton,
Southampton Airport, British Midland Airways at both their Heathrow and East
Midlands Crew Briefing Units and Virgin Express - Brussels. Negotiations are at an
advanced stage with major airlines, handling agents and airport operators with deals
expected to be announced shortly.
The SkyTrak operations will be re-located to Chase Technology's prestigious HQ
building at Twickenham, Middlesex. Occupying 11,000 sq.ft of high-tech office, a
further 5,500 sq.ft is being refurbished to house the expanding requirements of the
Chase Group of Companies.
"The SkyTrak acquisition marks a further round of additions to the Chase Technology
Group, as the fast expanding group begins to realise the cash from its lucrative sell
back of its Year 2000 joint venture to Alydaar Inc., a deal which generated a net profit
of more than $10 million.
"The purchase of a network services business is expected to be completed within the
next few days and Chase are also looking at a number of other potential targets with
turnovers of between £5 million and £25 million.
"We are at the frog kissing stage," said Chase Technology Group MD Chris McAuley,
adding, "We are by nature an acquisitive company, and we are always on the lookout
for companies in the software and services sector who have developed a niche for
their products. This is certainly the case with the SkyTrak products. The customer list
speaks for itself. With the financial backing and marketing skills of Chase I am sure
the products will be a major contributor to our on-going growth and profits."
Chase Technology plc is approaching its second year of full trading with forecast
sales for the year of between £7-8 million with profits exceeding £1.0 million. A
Stock Market flotation is planned during the next 18 months. The Group comprises of
six companies, all market leaders in their field, and are involved in the supply of
software and services to the corporate and local government marketplace.
In addition to the Twickenham HQ Chase has opened an office in San Diego,
California for its Year 2000 solution company - CADAS Software plc.
Chase Technology plc Group Companies: Chase Aviation Systems plc, Chase
Software Solutions Ltd., CADAS Software plc, Interface Data Management Solutions
Ltd., Sterling Infotec plc, The Last Word International Ltd.
Victoria Mottram or George Shaw at Shaw PR on 0171 226 9177
Chris McAuley or Naomi Eaton at Chase on 0181 831 6800 or Bill Thompson at
SkyTrak on 0181 744 1718
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