Dicker Data sale off

After six months of negotiations, Exeed's planned acquisition of Dicker Data has been called off.

It is believed that Dicker Data was not happy with the price being offered for the company.

It was also claimed that the acquisition would have made Exeed Australia's largest HP distributor. The company would have also picked up Toshiba distribution.

"You never know with these things, we finally got down to things that both parties wouldn't move on," said Michael Bosnar, managing director at Exeed.

"We would have like it to be concluded about three months ago," he said.

Bosnar said Exeed had spent "a lot of time and money" on due diligence for the acquisition. "When you've got so many different parties involved to appease everybody is difficult at times," Bosnar said. He wouldn't elaborate further saying he had signed a non-disclosure agreement.

Exeed was working on another acquisition and would know whether to pursue it further within a week, Bosnar said. "We'll know within a week if it's serious or not and that encouraging," he said.

Bosnar said that HP and Toshiba--which both distribute through Dicker Data--had been "sympathetic" through the process.