Brief: Proact IT Acquires Cetus Solutions

Proact IT AB

23/10/2020 07:14

Oct 23 (Reuters) - Proact IT Group AB  PACT.ST :
    * PROACT ACQUIRES CETUS SOLUTIONS LTD. TO EXPAND PORTFOLIO
AND
PRESENCE IN UNITED KINGDOM
    * PURCHASE PRICE IS GBP 7.7 MILLION, ON A CASH FREE AND DEBT
FREE
BASIS, CORRESPONDING TO AN EBITA MULTIPLE OF 8
    * TRANSACTION IS WELL ALIGNED WITH COMMUNICATED GROWTH
TARGETS AND
IS EXPECTED TO INCREASE PROACT'S TOTAL YEARLY REVENUE BY
APPROXIMATELY GBP 13 MILLION
    * CETUS AND ITS EMPLOYEES WILL BECOME AN INTEGRAL PART OF
PROACT
IT UK LTD.
    * ACQUISITION OF CETUS IS EXPECTED TO CONTRIBUTE TO PROACT'S
REVENUE GROWTH AND IMPROVED EBITA MARGINS, IN ALIGNMENT WITH
STRATEGY AND FINANCIAL TARGETS.

Source text for Eikon:  ID:nWkr2hsSfS 
Further company coverage:  PACT.ST 

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