29 Jun 2018 07:00
Maintel Holdings Plc
("Maintel", the "Company" or the "Group")
Acquisition
Maintel Holdings Plc, the fast-growing provider of managed communications, is pleased to announce a strategic partnership with Atos and the acquisition of certain UK customer contracts with a total net consideration of £5.1 million (the "Acquisition").
Highlights of the Acquisition:
· Maintel is acquiring a customer base which has been divested in order for Atos to focus on a growth strategy through its partners and large customer accounts.
· Following the Acquisition, Maintel will become a new channel partner of Atos.
· The customer contracts acquired are to be transferred to Maintel and revenue will be billed by Maintel, commencing 1 July 2018.
· The consideration of the Acquisition is payable over a period of 4 and half years with spread payment instalments and will be satisfied using the Company's existing cash resources.
· The Acquisition is expected to be accretive in the first full year of ownership.
For further information please contact:
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Eddie Buxton, Chief Executive | 020 7401 4601 |
Mark Townsend, Chief Financial Officer | 020 7401 4663 |
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finnCap |
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Jonny Franklin-Adams / Emily Watts (Corporate Finance) Stephen Norcross (Corporate Broking) | 020 7220 0500
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
Maintel (MAI)