Business support services group DCC has reached conditional agreement to acquire Banque Magnetique SAS, a Paris-based French distributor of consumer electronic products and IT peripherals to the French retail market.

SHARES in DCC plunged almost 10% yesterday after the company said its first half earnings will be lower because of falling profits at its IT division.

A DUBLIN family who founded a DVD and video games distributor are €23.5 million richer after selling the company to DCC.

ISEQ-listed business-services company DCC has reached agreement to acquire 100% of home entertainment company Pilton.