26 Jul 2013 12:30
AdEPT Telecom plc
("AdEPT Telecom" or the "Company")
Potential Acquisition
AdEPT Telecom, one of the UK's leading independent providers of voice and data telecommunications solutions, announces that it is in advanced discussions to acquire approximately 3,000 business customer contracts for an initial cash consideration of approximately £2m. Further consideration of approximately £0.5m in cash may be payable based upon performance of the contracts post-acquisition.
It is anticipated that the transaction will be completed during the next few weeks but there can be no certainty that completion will occur.
Annualised revenue and EBITDA attributable to the contracts is anticipated to be approximately £1.8 million and £0.6 million respectively.
The total cash consideration would be funded out of AdEPT Telecom's existing bank facilities.
A further announcement will be made, as appropriate.
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