25th Sep 2015 06:53
LONDON (Alliance News) - Telecommunications software and services company Artilium PLC on Friday said it has agreed to acquire Netherlands-based Comsys Group for an initial GBP3.4 million in shares.
Under the deal, Artilium will acquire all the operating units of Comsys, an interactive telephony services and telecommunication products company.
It will pay an initial GBP3.4 million to acquire Comsys, to be covered by the issue of 59.3 million shares at 5.75 pence per share. It will issue another 41.9 million shares, or another GBP2.4 million, based on Comsys hitting earnings targets in the next three years.
Artilium said the deal will boost its position in the telecoms sector and said it expects the deal to be earnings-accretive in the first year.
"I am very excited about the potential of the combination of Artilium and Comsys. We are both strong in communication technology and together we create an international footprint which will allow the upselling of our products and services internationally and accelerate the growth of the company," said Artilium Chief Executive Bart Weijermars.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ARTA.L