Acquisition

RNS Number : 9760S

Maintel Holdings PLC

29 June 2018

 

Maintel Holdings Plc

("Maintel", the "Company" or the "Group")

Acquisition

Maintel Holdings Plc, the fast-growing provider of managed communications, is pleased to announce a strategic partnership with Atos and the acquisition of certain UK customer contracts with a total net consideration of £5.1 million (the "Acquisition").

Highlights of the Acquisition:

·      Maintel is acquiring a customer base which has been divested in order for Atos to focus on a growth strategy through its partners and large customer accounts.

·      Following the Acquisition, Maintel will become a new channel partner of Atos.

·      The customer contracts acquired are to be transferred to Maintel and revenue will be billed by Maintel, commencing 1 July 2018.

·      The consideration of the Acquisition is payable over a period of 4 and half years with spread payment instalments and will be satisfied using the Company's existing cash resources.

·      The Acquisition is expected to be accretive in the first full year of ownership.

For further information please contact:

Eddie Buxton, Chief Executive	020 7401 4601
Mark Townsend, Chief Financial Officer	020 7401 4663
finnCap
Jonny Franklin-Adams / Emily Watts (Corporate Finance) Stephen Norcross (Corporate Broking)	020 7220 0500

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

 

END

 

 

ACQUWSNRWBANUAR