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(Alliance News) - Gamma Communications PLC said Monday it has acquired Exactive Holdings Ltd, which provides Microsoft-focused communications services, for up to GBP7.5 million in cash and shares.
The Berkshire, UK-based communications services provider said it will pay an initial GBP4.5 million, comprising GBP3.6 million in cash and GBP900,000 in shares.
The deferred contingent consideration of GBP3.0 million will require Exactive to achieve earnings before interest, taxes, depreciation and amortisation of GBP1.5 million in 2021.
Gamma said the acquisition of Exactive builds on an existing partnership which is for bringing customers a more complete range of services for Microsoft teams.
The deal is part of Gamma's strategy to become the leading provider of Unified Communications as a Service in Europe.
"I am delighted to build on our track record of working with Exactive to bring customers a complete range of services for Microsoft Teams. UCaaS is an ever evolving and rapidly growing market that we plan to be at the heart of, across all customer environments," said Gamma Chief Executive Andrew Taylor.
Shares in Gamma Communications were up 4.8% at 1,268.60 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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