13th May 2014 12:34
LONDON (Alliance News) - Marketing company Cello Group PLC Tuesday acquired healthcare communications company iS Healthcare Dynamics Ltd for GBP2.5 million, payable as GBP2.0 million in cash and 567,376 Cello shares.
A further consideration of up to GBP3.3 million will be payable dependant on iS Healthcare Dynamics' performance through to the end of 2016.
For the year to end-March, iS had a pretax profit of GBP1.1 million on revenue of GBP6.6 million. The acquisition is expected to be immediately earnings enhancing and will be integrated into Cello's healthcare division.
Meanwhile, Cello said it is confident its results for the first half of 2014 will beat 2013 and that it will meet its full-year expectations in a statement ahead of its annual general meeting.
Cello said it had seen a good start to the year, with strong gross profit growth in its core offerings in the US, UK and internationally.
The Cello Signal business has made good progress in the year to date, Cello said, seeing strong gross profit growth across its network in the UK, USA and Asia. Its investments in 2012 and 2013 performed well, in particular it saw growth in software licence sales of its Pulsar social media software suite.
Shares in Cello were trading up 4.5% at 93.00 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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