2 Oct 2017 07:00
Haynes Publishing Group P.L.C. ("Haynes").
Haynes (LON:HYNS) is pleased to announce that it has reached agreement on the acquisition of the E3 Technical business from Carweb Ltd., a Solera UK subsidiary, for a total cash consideration of £4.72 million (the "Transaction"). The consideration is being funded from Haynes' existing cash resources and banking facilities.
The E3 Technical business consists of repair and maintenance information ("RMI"), vehicle registration mark look-up ("VRM") and an associated provision of helpdesk services. The Transaction includes the acquisition of certain customer contracts, and employees from Carweb.
Commenting on the Transaction, Eddie Bell, Chairman of Haynes, said "this acquisition will significantly strengthen the Group's professional data solutions offering in the UK and provide cross over benefits for Haynes' consumer division."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Haynes Publishing Group P.L.C. +44 1963 442009
E Bell, Chairman
J Haynes, Chief Executive Officer
Investor Contact: Panmure Gordon (UK) Limited +44 20 7886 2500
Karri Vuori
Erik Anderson
James Greenwood
Media Contact: New Century Media +44 20 7930 8033
Richard Hill