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Potential acquisition

26 Jul 2013 12:30

RNS Number : 2369K
AdEPT Telecom plc
26 July 2013
 



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 ÂŁ2m. Further consideration of approximately ÂŁ0.5m 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 ÂŁ1.8 million and ÂŁ0.6 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

This information is provided by RNS
The company news service from the London Stock Exchange
 
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