FastTrak Software Publishing Ltd In Management Buy-Out Coup
September 23rd
FastTrak Software Publishing Ltd Managing Director Jon Silvera and Financial Director Jon Clough are pleased to announce the successful buy out of FastTrak, having entered into a binding agreement on the 20th September with Polaron PLC. The buy-out announcement follows on from news that MAGIX will no longer be utilising FastTrak Software Ltd to publish its future range of titles, instead preferring to concentrate its own efforts on the publishing, distribution of MAGIX products in the UK.
Jon Silvera, commented, "Magixs' timely exit was the window of opportunity that we needed and was instrumental in defining the value of the business, which when combined with forthcoming signing opportunities created the ideal opportunity for our coup! Although it happened earlier than anticipated, it was the obvious conclusion to the successful partnership. As the UK publisher we were contracted to establish product in specific retail channels, create new accounts to increase UK market share attract new audiences and grow new markets. We've done our job well and ahead of schedule and once all objectives had been met we were surplus to requirements. eJay is another prime example of this commonly adopted business model."
Jon Clough, Financial Director added, "Although there will inevitably be some major changes, but the fundamentals such as general staffing structure and our Watford location will remain the same although we have already reworked the FastTrak logo . The combined and extensive experience of Jon Silvera, Chairman and Financial Director, Jon Clough in retail/publishing and the financial sector means that the next few months will prove exciting for FastTrak, with a number of new announcements and titles launching. Chairman, Jon Silvera continued "We understand our markets and will continue to bring the best products to market making them available to current retail and e-tail channels, whilst endeavouring to support independent retailers with inventive sales solutions for their retail requirements. The relationships developed with suppliers, customers and our cohesive team will make this a successful venture!
Jon Silvera also adds "I would also like to take this opportunity to thank the wonderful team at FastTrak. All our success is thanks to them and in equal measure. The buy-out would not have been considered if it were not for their commitment and enthusiasm to FastTrak over the years. It's rare to be given the opportunity to work with such a talented and fun group of individuals. I'm extremely grateful and they should be equally proud of what they represent. Thank you."
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For further information
Please contact Public Relations Manager
Samantha Alleyne
FastTrak Software Publishing Ltd
T.01923 495 540
Email: Samantha@polaron.co.uk