For immediate release 15 November 2000
ANITE GROUP PLC ('Anite' or the 'Company')
Acquires Finnish IT services and consultancy company for upto £5.3 million
Anite Group plc, the European IT consultancy and services company, today announces that it has entered into an agreement with Holdit Ab ('Seller') to acquire the entire issued share capital of Carus Ab ('Carus'), a provider of software development and IT consultancy services based in Finland, for a maximum consideration including earnout of £5.3 million. The consideration comprises initial consideration of £300,000, plus a maximum earnout of £5 million payable on the satisfaction by Carus of certain profit targets to 30 April 2003.
The initial consideration will be satisfied by the issue and allotment by Anite to the Seller of 157,315 ordinary shares of 10 pence each in the capital of Anite, at the rate of £1.907 per ordinary share. The earnout will also be satisfied by the issue and allotment by Anite to the Seller of ordinary shares in the capital of Anite. Application will be made to the Financial Services Authority and the London Stock Exchange plc for 157,315 Ordinary Shares at 10p each ('Shares') to be admitted to the Official List. It is expected that admission of the new Shares will be granted on 17 November 2000 and that dealings will to commence on 20 November 2000.
Carus is a software development and consultancy company, an Oracle Alliance Partner and a member of the Microsoft Developer Network and the acquisition further extends the activities of Anite's Travel Business into Scandinavia and the Baltic countries. Carus clients include a number of Northern European ferry operators such as Birka Line, Color Line, EstLine and Fjord Line.
Anite Group's Chief Executive John Hawkins, commenting on the acquisition, said: 'The acquisition of Carus supports our position of providing leading managed services to travel and tour operators across Europe. Scandinavia is an important sector in this market and Carus will enable us to develop our Northern flank more extensively in a shorter time period.'
For further information please contact: www.anite.com
Anite Group PLC 0118 945 0121
John Hawkins, Chief Executive
Simon Hunt, Finance Director
Golin/Harris Ludgate 020 7253 2252
Edward Macquisten
846787-1 2
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