Anite Group PLC
6 December 1999
Anite Group buys Italian e-commerce software business
Anite Group plc, (the 'Company') the IT consultancy,
software and services business, announces that it is to
acquire the issued share capital of Opentur SRL ('Opentur'),
for a cash payment of up to 6.5 billion lire (£2.1m),
together with potential earn out cash payments up to 3.5
billion lire (£1.1m) payable based on profits achieved up to
December 31st 2001.
Open Tur is the market leader in the provision of
reservation software to tour operators in Italy. Most of
the systems currently being supplied provide e-commerce
capability for the customer. Opentur's profits before tax in
the year to December 31st 1998 were £300,000 on sales of
£1.2m. This acquisition extends the activities of Anite's
Travel subsidiary to Continental Europe, as well as further
developing its e-commerce activities.
John Hawkins, Chief Executive of Anite Group said, 'This
acquisition continues our strategy of focusing on key
vertical sectors and concentrating on building e-commerce
into every activity in which Anite is involved.'
For further information please contact:
Anite Group plc
John Hawkins, Chief Executive 0118 963 7708
Simon Hunt, Finance Director
Ludgate Communications 0171 253 2252
Edward Macquisten/Reg Hoare
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