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EUROPEAN DYNAMICS VARS IN FLUX

Bo MarinsenGiven that the firm was named to Microsoft’s Inner Circle this year, it’s interesting that the CEO and founder of reseller Norriq has gone out the door this week.  The Danish firm has issued a press release stating that the board of directors has dismissed CEO Bo Martinsen. (Bo knows Dynamics?) The company also hired a new CFO for its French business. Norriq is the third important Dynamics reseller in Europe to undergo serious changes. That includes the sale this month of reselling operations by both Qurius and Columbus IT Partner to Prodware. All four companies made the Inner Circle for 2011.

With the debt crisis spreading, things can’t be great over there. Prodware agreed to purchase the French and Spanish operations of Danish Columbus IT, and is also taking over in Belgium and Spain from Qurius. The Spanish deal was pictured as the foundation for a move into Latin America. Prodware Belgium will handle both the Flanders and Walloon provinces. Qurius is receiving about $4 million in cash that it said would be used to develop dominant market positions in the United Kingdom and Germany and pay off debt.  In issuing financial results, Qurius pointed to the year-earlier sale of its Infor business as contributing to a drop in revenue. For the third quarter ended September 30, EBIT before restructuring was a loss of about $1.5 million, a 66-percent improvement from the year-earlier loss. Revenue for the most recently ended period was about $25.4 million, down 12.5 percent from last year’s corresponding period. The company said Qurius Germany turned a year-ago loss “to almost break even” while Qurius U.K. and Qurius Netherlands both reversed year earlier losses and made a profit. No numbers were reported for this year’s results in those countries.

 

 

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