Monday 18 August 2003

Management buy-out at Maxa Technologies

The management team at Maxa Technologies today announce the completion of their acquisition of the UK based company from its previous parent group, Axiohm Transaction Solutions Inc (ATSI) in the USA.

Maxa Technologies (formerly Axiohm plc) is the sales and support centre for printers from ATSI group companies, TPG Inc (formerly Axiohm) and Cognitive Solutions Inc in Europe, Middle East and Africa. Maxa Technologies also recently announced EMEA alliances with Extech , Blazepoint and NiceLabel™ , these partnerships will continue to be developed and strengthened.

The management team has acquired 100 percent ownership of Maxa Technologies. Maxa Technologies currently employs 35 people from its headquarters in Altrincham UK, with a field sales team based throughout EMEA. Maxa Technologies also has a loyal and active network of over 60 major resellers across EMEA.

A new relationship now begins with ATSI, and Maxa Technologies will further enhance its roll as the EMEA sales and support centre for Axiohm TPG and Cognitive. With a 5 year sole and exclusive distribution agreement, Axiohm TPG printers (Retail POS, Hospitality, Kiosk and Banking) and Cognitive printers (Barcode Label and Portable) will form the ongoing core of the Maxa Technologies product offering.

The new owners and members of the board are Andrea Percival, Managing Director, and Steve Berry, Sales Director. With over 20 years combined experience within the business, both are confident that the transition to independence will be managed with the minimum of disruption to its customers and suppliers. Focus will be maintained on adding value to Maxa Technologies products and services to the mutual benefit of the company and its partners.

Andrea Percival, Managing Director, Maxa Technologies said: "Over the last few years the company has grown in strength and profitability. The development of new strategic alliances with third party manufacturing partners has been a key factor in the company's growth. With new found independence, Maxa Technologies will have the ability to flourish further and I am therefore confident that our growth will accelerate as we introduce new products and services, and develop into new markets."

About Maxa Technology plc

Maxa Technologies (formerly Axiohm plc) is an ISO Approved, supplier of printers, peripherals and services. Under the new brand Maxatec, its product portfolio includes Axiohm POS printers (Now TPG), Cognitive bar code label printers, Extech portable printers, Blazepoint industrial label printers, NiceLabel™ label design software, Epson mechanisms and a wide range of consumables (paper, labels, ribbons), spare parts and in-house service capabilities. Maxa Technologies also manufactures and distributes an indigenous range of impact receipt printers, panel mount printers and interface boards. For more information, call +44 161 942 7850