Anite Group PLC
3 May 2000
ANITE GROUP PLC
OPTION TO ACQUIRE IMASYS ONLINE LIMITED ('IOL')
FOR UP TO £1.5 MILLION
Anite Group plc ('Anite'), the IT services consultancy,
today announces that it has acquired an option to
purchase the entire issued ordinary share capital of IOL
for £1 plus a maximum earn-out of £1.5 million subject to
performance targets being met. In addition, Anite has
subscribed for 300,000 preference shares of £1 each in
the capital of IOL at par.
Anite Public Sector Limited is the Group's fast-growing
consultancy and solutions business within the public
sector.
IOL is a company in its foundation phase developing
managed services that assist organisations in the use of
electronic document handling. The business offers
services that capture document images and related data on
behalf of customers before shipping the resulting images
and data to the customer electronically. IOL has
developed skills in operating managed services on a
continuing basis, delivering high levels of customer
satisfaction in line with contractually negotiated
service level agreements while meeting budgetary targets.
John Hawkins, Chief Executive Officer of Anite said: 'We
believe that the management of IOL has laid a firm
foundation and that IOL's services have the capability to
achieve very rapid sales growth and long term annual
revenues. We think we can enhance the competitiveness of
our local government finance software by significantly
reducing the start-up costs and life-time costs of
ownership of these systems.'
For further information, please contact:
Anite Group plc www.anite.com
John Hawkins, Chief Executive Officer 0118 945 0129
Simon Hunt, Group Finance Director
Ludgate Communications
Edward Macquisten 020 7253 2252
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