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MAINTEL HOLDINGS PLC — M&A Activity 2018
Jun 29, 2018
7771_rns_2018-06-29_ee399913-9803-4d81-93a6-b238cec64875.html
M&A Activity
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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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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