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6 Aug 2013 07:00
AdEPT Telecom plc
("AdEPT Telecom" or the "Company")
Acquisition of certain trade and assets from Bluebell Telecom Limited
Further to the announcement on 26 July 2013, the Board of AdEPT Telecom, one of the UK's leading independent providers of voice and data telecommunications solutions, is pleased to announce that it has signed an agreement to acquire approximately 3,000 business customer contracts from Bluebell Telecom Limited ("Bluebell") for an initial cash consideration of approximately £2m. Further consideration of approximately £0.5m may be payable based upon performance of the contracts post-acquisition.
The business customer contracts acquired from Bluebell complement the AdEPT Telecom portfolio as they are all UK based fixed-line telecom business customers taking communications products including lines, calls, data connectivity, inbound-telephony and maintenance services. Management of the contracts will be transferred to AdEPT Telecom's office in Tunbridge Wells, Kent during August 2013.
Based on recent management accounting information, annualised revenue and EBITDA attributable to the contracts being acquired is anticipated to be approximately £1.8 million and £0.6 million respectively.
The total consideration will be funded out of AdEPT Telecom's existing bank facilities.
For further information on AdEPT Telecom please visit www.adept-telecom.co.uk or contact:
AdEPT Telecom Plc
Roger Wilson, Chairman 07786 111 535
Ian Fishwick, Chief Executive 01892 550 225
John Swaite, Finance Director 01892 550 243
Northland Capital Partners Limited
Edward Hutton/Lauren Kettle 020 7796 8800
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of voice and data telecommunications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, mobile, VoIP and data connectivity products. AdEPT's tailored services are used by thousands of businesses and residential customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT, Cable & Wireless and TalkTalk Business. The Company employs 48 members of staff at its offices in Tunbridge Wells, Kent.
AdEPT Telecom is listed on the London Stock Exchange (Ticker: ADT). For further information please visit: www.adept-telecom.co.uk
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