22 Sep 2016 09:35
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Don't have an account? Click here to register.Scisys completes acquisition of Annova Systems for £9.7m
Tue, 03rd Jan 2017 09:58
(ShareCast News) - Information and communications technology provider Scisys has completed the acquisition of Munich-based software provider Annova Systems for €11.35m (£9.7m), in order to put it in "a stronger market position" across Europe.The acquisition, which is expected to be "strongly" earnings enhancing from 2017 onwards, was funded through a new bank loan from Deutsche Bank with a three-year earn-out of up to €16.48m (£14.09m) in cash or shares subject to reaching targets.Annova supplies newsroom editorial solutions in the media sector based on its OpenMedia software, which enables "story-centric workflows" for news to be created for distribution on any medium.Some of Annova's customers are public and commercial broadcasters across Europe, including a 12-year contract with the BBC.For the year ended 31 December 2015, Annova generated revenues of €7.5m, earnings before interest and tax (EBIT) of €1.1m and operating cash flow of €1.4m.Shares in Scisys were up 0.11% to 110.12p at 1022 GMT.
More News
5 Sep 2016 10:52
Scisys wins further contract with MoD
(ShareCast News) - Scisys, a supplier of bespoke software systems and IT-based solutions, has been awarded a contract by the UK Ministry of Defence to deliver further research and software development services to the Defence Science and Technology Laboratory. The contract, awarded through the MOD's
Read more16 Aug 2016 10:38
Strong euro could benefit full-year numbers for SCISYS
(ShareCast News) - Bespoke software systems supplier SCISYS updated the marker ahead of releasing its interim results in September on Tuesday. The AIM-traded company said it has maintained the "encouraging start to the year" reported at the AGM on 9 June. It said this favourable trading picture is
Read more2 Jun 2016 15:08
10 May 2016 10:52
31 Mar 2016 17:39
Scisys optimistic after problem contract resolved
(ShareCast News) - Preliminary results from Scisys confirmed a strong second half recovery that lifted the numbers above expectations Scisys, which recently won a £4m contract to develop a customs compliance management information system for the UK Ministry of Defence, reinstated the full year divid
Read more24 Mar 2016 16:10
24 Feb 2016 12:16
SCISYS system selected by major UK broadcaster
(ShareCast News) - SCISYS was celebrating a multi-million pound contract win on Wednesday, revealing an unnamed major UK broadcaster was selecting its dira! system for radio production and playout. The AIM-traded supplier of bespoke software and IT solutions said the contract was the next step in im
Read more24 Feb 2016 08:51