REG - Maintel Holdings PLC - Acquisition

Maintel HoldingsAnnouncement

29/06/2018 07:05

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
 




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