Synstar sells Swiss miss

Following the disposal of its Italian business, Synstar has sold its Swiss operations to cut losses of around £1.5m.

Following the disposal of its Italian business, Synstar has sold its Swiss operations to cut losses of around £1.5m.

The contracts and stock held by Synstar Computer Services AG will be acquired by Itris Maintenance AG on 1 March for CHF1.25m (£516,552), of which CHF200,000 will be deferred, subject to client retention.

Itris will take on 41 Synstar employees, but remaining staff will be made redundant.

Darell Riddell, group research manager at Synstar, said: "The sale of the Swiss operation was mooted at the back end of last year when we disposed of our Italian operation. It is a very good deal for us. The Swiss operation never made any money and for a UK company to succeed [in Switzerland], it takes five times the effort compared to a national."

Synstar will retain Itris as a subcontractor to deliver pan-European IT support.

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