ITG, the telecommunications group, has announced the acquisition of Croft Computers and its subsidiaries, for up to £3.05 million (€3.87 million). There will be an initial cash payment of £2.95 million and a further cash payment of £100,000, if certain targets are met in the year ending June 30th, 2000.

Croft, an Irish computer company, was 51 per cent-controlled by non-executive chairman, Mr Bruce Lister. The two senior executive directors, Mr Paul Foley and Mr Gary Brady, will be remaining with the company. The deal was organised by Mr Stephen McWilliam, managing director of ITG's Computers in Ireland.

Croft has two separate businesses: the sale of computer hardware and related services and the provision of cellular services to corporate customers in Ireland. It generated sales of £8.6 million in the year ended June 30th, 1999 and had net assets of £311,125 on November 30th, 1999.

ITG said the acquisition will allow it to develop business-to-business, e-commerce solutions for its further enlarged telecoms and computer corporate customer base.