11 April 2006

Devestment & Due Diligence

Well the meeting came and went and unfortunately didn't turn into the bloody masacre that I hoped it would become. The chap from the customer is frankly a twat and I had to bite my tongue a few times as he clearly doesn't have a grip on what is going on. I especially like the way he calls our product Siemens 7, and assumed that we would be upgrading to Siemens 8 in th near future!

Basically, he said that they didn't want to go through the process of vetting vendors again, everyone is happy with Siemens and he suggested that there was £6 million plus business over the next few years all with out name on (or not, I thought).

Then our man stood up and basically said that we were being sold, and that there would be a new name above the door, "so long as its not Silvertech" the customer jokingly said ~ Ha Ha how we laughed. Our man did say that the office & infrastructure was part of the deal (i.e. we would keep our building and servers etc) and that they were seeking a buyer who was serious about maintaining the high quality engineering team in tact and not relocating them.

In general it was a good meeting to be in (although there is a higher level customer meeting on Thursday which will be the Yes/No decision), but I gained no really personal information.

Speaking to Dan, there seems to be a very high demand for PCS7 contract engineers at the moment, which is a good feel to have at the back of your mind.

Happy Easter bunnies

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