Fiji connection in Brocker purchase

By PAULA OLIVER

One of Fiji's richest families, holding a majority stake in the nation's airline, is behind the latest $37 million acquisition for fast-growing local company Brocker Technology.

Announcing the deal to buy out Generic Technology, the holding company of Datec Group, Brocker chief executive Mike Ridgway said he was looking forward to working with Datec. The company had revenues last year of $66 million.

"It's certainly the biggest deal Brocker has been involved in, and it's a key part of our vision to expand the group globally," he said.

Brocker, which recently listed on the Nasdaq, develops and markets products to improve business-to-business communication.

Datec Group will continue to be partly owned by Fiji's Ah Koy family, widely acknowledged as one of the most influential families in Fiji. Senior member Jim Ah Koy spent several years as a Fijian MP, and became Finance Minister under Sitiveni Rabuka. His assets include a private island resort, office buildings, and a large holding in Air Fiji.

Son Michael Ah Koy, Datec's executive director, was educated with coup leader George Speight at a Michigan university.

The family's close ties to Mr Speight resulted in Jim Ah Koy taking out newspaper advertisements during the coup to state that he was in no way connected with it.

Datec employs 300 staff in offices throughout the South Pacific, including Australia, New Zealand, Papua New Guinea, the Solomon Islands, Vanuatu and Fiji.

The company provides software solutions for large corporates and government organisations. The Datec transaction will cost Brocker Technology about $37 million, 70 per cent of which will be paid in Brocker shares and the balance in cash over three years.

Brocker shares last traded on the Nasdaq at $US5.64.