The announcement this morning that Renaissance has sold its distribution division to Exeed concludes nine months of speculation, dating all the way back to a September update confirming rumours of a potential sale.
In that announcement, Renaissance admitted having been approached by a third party interested in acquiring its distribution division; the company also stated it was making the announcement because another ‘potential buyer’ had been told of the approach and was claiming to be in possession of inside information.
An update in March confirmed that the sale was ready to enter the negotiation phase, with two buyers in the running.
Techday heard a strong rumour later that month that Exeed was one of those potential buyers, as part of a deal also involving Dimension Data.
We ran this past Exeed boss Justin Tye on March 29, and he said it was an ‘interesting rumour... but not a correct one’.
Tye did not respond when asked flat out whether there was any sort of deal at all in the wings at the time.