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Redcentric PLC - Harrogate, England-based IT services provider - Says its subsidiary Redcentric Solutions Ltd has signed conditional contracts to buy the business and assets from Sungard Availability Services Ltd, an IT service management company. The acquisition relates to the operation of up to three Sungard data centres and network services from Sungard. Initial minimum cash consideration to be paid on completion for the acquisition is GBP11 million and the maximum consideration is GBP22 million.
Redcentric Chief Executive Officer Peter Brotherton says: "This acquisition is the first scale acquisition completed by Redcentric, in line with its strategy."
Redcentric also says it has bought the business carried out by Sungard UK of providing consulting and Amazon Web Services cloud related services, for GBP4.2 million paid in cash.
Current stock price: up 0.4% at 122.50 pence on Tuesday
12-month change: down 13%
By Xindi Wei; xindiwei@alliancenews.com
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