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Large new acquisition - immediately earnings-enhancing this year. Plus 90% recurring revenues, and 50%+ CAGR growth. Sounds terrific! Https://www.investegate.co.uk/imimobile-plc--imo-/rns/acquisition/201712070700046288Y/
After this acquisition Whitman Howard have retained their 260p target for the moment (saying Buy). They've increased next year's forecast EBITDA by £1m. They now forecast 14.4p EPS to March'19. The cash pile is an estimated £6.7m at 31/3/18.
The respected Techmarketview likes the acquisition and expects more good news to come: Http://www.techmarketview.com/ukhotviews/archive/2017/12/07/imimobile-targets-nhs-efficiency-drive "IMImobile Targets NHS Efficiency Drive Thursday 07 December 2017 IMImobile Targets NHS Efficiency Drive Cloud communications software and services provider IMImobile is making a play for the NHS IT services market through the acquisition of UK patient communications specialist Healthcare Communications. The move is aimed at enhancing IMImobile’s public sector position through establishing a foothold in the £1.6b healthcare segment. The NHS has identified better use of digital patient communications as an important driver of efficiency savings as it works to close a £30b funding gap by 2020/21. The Department of Health estimates that missed hospital appointments cost the NHS around £750m a year. Healthcare Communications, which turned over £3.6m last year and provides services to 140 NHS trusts, has established technologies which address the “Did Not Attend” problem. IMImobile believes adding these capabilities to its products and solutions that will provide significant cross-sell and up-sell opportunities in the NHS IT services arena (read the latest UK Public Sector SITS Market Trends & Forecasts Report for further insight into the healthcare market). Under the terms of the deal, IMImobile will pay an initial consideration of £9.0m in cash on completion withh additional deferred payments of up to a maximum aggregate value of £6.0m, split over two years based on a mix of gross profit growth and EBITDA targets. The deferred consideration will be satisfied either in cash or shares. It is being funded from a mix of existing cash resources and a new £12.0m debt facility agreed with Silicon Valley Bank. This latest announcement comes hot on the heels of the purchase last month of US messaging provider Sumotext (see here). It also marks a continuation of a heavily acquisition led expansion strategy which has accounted for three quarters of the near 50% top-line growth achieved in its last financial year (see here). This business has grown consistently at double-digit rates while generating cash. There is every reason to expect that this rate of progress will continue.""