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Dataflex Holdings is to sell the business of Dataflex Design Communications to a management team and place its remaining operations into liquidation.

Dataflex Design Communications has bought Eurotel Telecoms, the Winchester-based supplier of intelligent routers, out of receivership, saving 23 of the 70 jobs.

Dataflex has acquired Paxdata Networks, the supplier of telecoms equipment, for £1.4m.

Dataflex is planning to raise £10m in a flotation in order to fund the development of its call routing technology.