Less Ads, More Data, More Tools Register for FREE

Pin to quick picks1Spatial Holdings Regulatory News (SPA)

Share Price Information for 1Spatial Holdings (SPA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 70.00
Bid: 69.00
Ask: 71.00
Change: 0.00 (0.00%)
Spread: 2.00 (2.899%)
Open: 70.00
High: 70.00
Low: 70.00
Prev. Close: 70.00
SPA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Acquisition of Eon Enterprises Limited

27 Apr 2009 07:00

RNS Number : 1685R
Avisen PLC
27 April 2009
 



27 April 2009

(AIM: AVI)

Avisen plc 

('Avisen' or 'the Company')

Acquisition of Eon Enterprises Limited

Avisen, the AIM quoted performance management specialist, announces the acquisition of the entire issued share capital of Eon Enterprises Limited ("Eon") Eon's sole wholly owned subsidiary, Infocube Limited ("Infocube"), is a leading Cognos and IBM Business Partner. The total consideration for the acquisition is £585,130.

The consideration is being satisfied by a £130,000 cash payment (which is payable in installments prior to 31 July 2009) and the issue of 2,889,711 new ordinary shares in the capital of the Company ("Ordinary Shares") at a price of 15.75p, equivalent to the closing middle market price of the Ordinary Shares on 23 April 2009. Infocube's unaudited management accounts for the period ended 31 March 2008 show profit before tax of £103,086 on turnover of £1,208,501. The value of its net assets as at 31 March 2008 was £270,020. Eon has no trading activity and its sole function is to act as Infocube's holding company.

Infocube, founded in 1988, provides practical and cost-effective Business Intelligence, Planning, Forecasting and Data Warehousing solutions for its clients. Infocube works in partnership with Cognos, an IBM company, and the world's leading developer of Enterprise Business Intelligence and Performance Management software, in order to provide a comprehensive range of services, including software licences, consultancy, development, training and post implementation support.

Following the acquisition, Avisen will be positioned as a leading IBM Cognos reseller and consultancy in the UK and will have access to Infocube's blue-chip client base. This deal further augments Avisen's ability to provide high-end consulting and advisory services.

Ian Stone, the sole shareholder of Eon, managing director of Infocube and previously a sales  executive at Cognos, will join Avisen's share option scheme and will be eligible for option grants  with the same EBIT performance criteria as other key executives.

In addition, it is intended that Mr Stone will be appointed to the board of Avisen in due course. Ian Stone has agreed not to dispose of the Ordinary Shares received in consideration for the acquisition for a period of 12 months from the date of admission, without the prior written consent of Avisen.

Application will be made for 2,889,711 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 1 May 2009. Following the issue of these shares, the Company will have a total of 114,191,146 Ordinary Shares in issue.

Marcus Hanke, CEO of Avisen, commented:

"This is Avisen's second acquisition this year as our aggressive growth strategy continues. Avisen will now be positioned as a leading IBM Cognos reseller and consultancy provider in the UK which further enhances our services. We would like to welcome Infocube's team on board and we look forward to working alongside them."

--END--

For further information, please contact:

 

Avisen plc

Marcus Hanke (CEO)

Duncan Neale (CFO)

Tel: +44 (0)870 880 2978

NOMAD and Broker:

John East & Partners Limited

Bidhi Bhoma

Tel: +44 (0) 20 7628 2200

Financial PR:

Bishopsgate Communications

Tel: +44 (0) 20 7562 3355

Jenni Herbert

Siobhra Murphy

avisen@bishopsgatecommunications.com

Notes to Editors:

Avisen

Avisen is a business and technology consultancy specialising in performance management with a focus on strategy creation, development and implementation. It provides advisory services and software distribution of solutions in the corporate performance management market. Avisen aims to provide specialist advice to enable organisations to build more effective capabilities to manage the performance of their businesses and allow them to achieve their desired targets.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQPUUUPCUPBGQC
Date   Source Headline
31st Aug 20184:56 pmRNSTotal Voting Rights
24th Aug 201810:06 amRNSDirector Share Purchase
23rd Aug 20182:48 pmRNSHolding(s) in Company
20th Aug 20183:19 pmRNSResult of General Meeting
31st Jul 20187:00 amRNSPosting of Circular & Related Party Transactions
26th Jul 20185:12 pmRNSResult of Placing
26th Jul 201811:06 amRNSClose of Accelerated Bookbuild
26th Jul 20187:00 amRNSLaunch Of Placing Via Accelerated Bookbuild
24th Jul 20181:00 pmRNSResult of AGM
10th Jul 20187:00 amRNSDirector Appointment
2nd Jul 20187:00 amRNSReport and Accounts and Notice of AGM
22nd May 20187:00 amRNSFinal results for the year ended 31 January 2018
9th May 20187:00 amRNSNotice of Results
3rd Apr 20187:00 amRNS1Spatial Awarded Significant Contract
15th Mar 20187:00 amRNSDirectorate Change
15th Mar 20187:00 amRNSTrading Update
15th Mar 20187:00 amRNSDisposal of Enables IT
11th Jan 20184:00 pmRNSHolding(s) in Company
10th Jan 20183:24 pmRNSHolding(s) in Company
9th Jan 20187:00 amRNS1Spatial Awarded US State Contract
4th Dec 20179:30 amRNSHolding(s) in Company
29th Nov 20176:23 pmRNSReplacement: Holding(s) in Company
29th Nov 201712:00 pmRNSHolding(s) in Company
24th Oct 201712:45 pmRNSHolding(s) in Company
10th Oct 20177:01 amRNSInterim Results
10th Oct 20177:00 amRNSDirectorate Changes
19th Sep 201711:24 amRNSHolding(s) in Company
14th Sep 20171:54 pmRNSNotice of Interim Results
14th Sep 20179:58 amEQSEdison Investment Research Limited: Edison issues outlook on 1Spatial (SPA)
14th Sep 20177:00 amRNSUS Contract Wins
11th Sep 20177:00 amRNSContract Win with Northern Gas Networks Ltd
15th Aug 20177:00 amRNSChange of Registered Office
4th Aug 20177:00 amRNSDirector Appointment
27th Jul 20171:19 pmRNSResult of AGM
4th Jul 20177:00 amRNSReport and Accounts and Notice of AGM
23rd May 20177:00 amRNSFinal results for the year ended 31 January 2017
18th Apr 20175:40 pmRNSHolding(s) in Company
11th Apr 20177:00 amRNSShares Acquisition and Notice of Results
27th Mar 20171:13 pmRNSHolding(s) in Company
23rd Mar 20175:50 pmRNSHolding(s) in Company
22nd Mar 20177:00 amRNSDirector Shareholdings
17th Mar 20179:13 amRNSDirector Shareholdings
15th Mar 20177:00 amRNSDirector Appointment
7th Mar 20177:00 amRNSCompany Update
31st Jan 201711:21 amRNSDirectorate Change
11th Jan 20175:46 pmRNSDirectorate Change
30th Dec 20164:43 pmRNSDirectorate Change
20th Dec 20167:00 amRNSTrading Update and Divestment
24th Nov 20165:23 pmRNSHolding(s) in Company
18th Oct 20167:00 amRNSInterim Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.