Acquisition

Anite Group PLC 28 June 2001 28 June 2001 Anite Group plc ('Anite') Anite acquires Didgicom Limited for up to £1.8 million Anite, the European IT consultancy and services company, today announces that it has entered into an agreement to acquire the entire issued share capital of Didgicom Limited ('Didgicom'), a company specialising in the development, supply and maintenance of bespoke travel software products, for a maximum consideration of £1.8 million. Anite's travel division focuses on providing reservation and integrated solutions, including interactive booking, in the UK, Italy and Nordic regions. The consideration comprises an initial consideration of £650,000 ('Initial Consideration'), plus a maximum earn-out of £1.15 million payable on the achievement by Didgicom of various profit targets to 30 April 2003 ('Earn-Out Consideration') . The Initial Consideration will be satisfied as to £50,000 in cash on completion and as to £600,000 by the issue and allotment by Anite on completion of 483,092 ordinary shares of 10 pence each in the capital of Anite ('Anite Shares'), at the rate of £1.242 per ordinary share. The Earn-Out Consideration will also be satisfied by the issue and allotment of Anite Shares to the sellers. John Hawkins, Chief Executive of Anite Group Plc, commenting on the acquisition, said: 'Anite's existing travel strategy is to extend the 'range' and 'reach' of Anite Travel. Didgicom firmly provides access to a range of software products and skills that are complementary and additive to those in Anite Travel. Using our Anite Travel salesforce we expect to extend quickly the marketing force and penetration of these products and services in the sector.' 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
UK 100

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