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Gamma Communications PLC - London-based cloud communication services provider - Acquires Mission Labs Ltd for GBP40.2 million. Notes an additional deferred consideration of up to GBP6.0 million is payable over the next three years assuming development milestones are met. Initial consideration paid in cash from Gamma's existing reserves. Says the acquisition gives Gamma additional capabilities in the "rapidly" evolving markets of Cloud Contact Centre and Cloud Communications. Adds Gamma has been working with Mission Labs over the last 18 months on projects such as PhoneLine+, which is a replacement product for single line customers due to launch in the first half of this year.
"The acquisition of Mission Labs is important to Gamma, and provides us with an opportunity to both reinforce and accelerate our unified communications as a service, contact center as a Service and digital technology and product capabilities across the group. This will enable Gamma to realise both current and future growth opportunities and ensure that we continue to successfully execute against both our immediate and long-term commitments," says Chief Executive Andrew Taylor.
Current stock price: 1,565.00 pence
Year-to-date change: down 4.9%
By Zoe Wickens; zoewickens@alliancenews.com
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