Acquisition

20 Jul 2006 15:34

Avesco PLC20 July 2006 For Immediate Release 20 July 2006 Avesco plc Acquires Dutch AV services business Avesco plc, the provider of services to the corporate presentation,entertainment and broadcast markets, announces that it has today acquired thebusiness and certain assets of Mazzo Events, a small AV services business basedin Amsterdam, for a consideration of up to €290,000 (approximately £200,000)dependent on future performance in the 24 months ending 1 August 2008. The business and assets have been acquired by Avesco's Dutch subsidiary, JVRAudiovisual. The acquisition bolsters JVR's Amsterdam office with additionaltechnical and sales staff and equipment as well as access to Mazzo's clientbase, but with no significant extra overheads other than staff costs. JVR alsohas branches in Rotterdam, Roosendaal and Hilversum. The transaction is unlikelyto have a material impact on Avesco's results in the current year. Ian Martin, Chairman of Avesco said, "This is an exciting development for JVR asit strengthens our presence in the important Amsterdam market and provides thebusiness with opportunities for further growth." For further information please contact: Ian Martin, Chairman, Avesco plc Tel: 01293 583400John Christmas, Group Finance Director, Avesco plc Terry Garrett, Alex White, John MoriartyWeber Shandwick Square Mile Tel: 020 7067 0700 This information is provided by RNS The company news service from the London Stock Exchange