Date: Tuesday July 18, 2006 11:29:00 am
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Danka sells Australian unit
JUL.06 Document-services company Danka Business Systems Plc. on Friday said it agreed to sell its Australian unit to Onesource Group Ltd. for $12.6 million in cash.Danka said it sold Danka Australasia PTY Ltd., which had revenue of $50.2 million and pretax earnings of $1.4 million in the 12 months ended March 31, because the unit did not fit its focus on Europe and the United States.Danka said it plans to use proceeds for general corporate purposes.The deal is expected to close by July 17, pending financing agreements.American depositary shares of London-based Danka were unchanged at $1.28 in early trading on the Nasdaq.
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