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Redcentric PLC - Harrogate, England-based IT managed services provider - Buys Piksel Industry Solutions Ltd for USD13.0 million in cash, drawing on existing resources. Redcentric says York- and London-based Piksel IS is a fellow IT managed services provider with 93 employees and a complementary customer base to its own. The acquisition is expected to general annualised revenue of GBP10 million and earnings before interest, tax, depreciation and amortisation of GBP400,000. Expects to realise GBP1.1 million in cost synergies within 15 months of purchase.
Current stock price: 137.73 pence, up 0.5% on Thursday
Year-to-date change: up 13%
By Tom Waite; thomaslwaite@alliancenews.com
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