Anite Group PLC
21 June 2001
Dated 21 June 2001
Anite Group plc
('Anite')
Anite acquires Finnish IT services and consultancy company for up to £250,000
Anite, the European IT consultancy and services company, is pleased to
announce that it has entered into an agreement to acquire the entire issued
share capital of Rox Mariehamn Ab ('Rox'), a provider of software, hardware,
repair and consultancy services in Finland, for up to £250,000 ('Total
Consideration'). Rox complements the business of Carus Ab which was acquired
by Anite in November 2000. Carus provides software development and IT
consultancy services principally to the travel industry in Finland.
The Total Consideration comprises initial consideration of £150,000 ('Initial
Consideration') plus a maximum earn-out of £100,000 payable on the
satisfaction by Rox of certain profit targets to 30 April 2002 ('Earn-Out').
The Initial Consideration is to be satisfied on completion by the issue and
allotment by Anite to the sellers of 99,334 ordinary shares of 10 pence each
in the capital of Anite ('Anite Shares'), at the rate of £1.51 per share.
The Earn-Out will also be satisfied by the issue and allotment of Anite
Shares.
John Hawkins, Chief Executive of Anite Group Plc, commenting on the
acquisition, said:
'This acquisition enhances our growing travel business in Finland and
Scandinavia'.
For further information please contact:
Anite Group Plc 0118 945 0121
John Hawkins, Chief Executive
Golin/Harris Ludgate 020 7324 8888
Reg Hoare / Laurence Read
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