2nd Oct 2018 09:00
LONDON (Alliance News) - UK-focused communications services provider Gamma Communications PLC said on Tuesday it has acquired Dutch telecoms group DX Groep BV, or Dean One, for a total of EUR27.2 million.
On completion of the acquisition, an initial EUR13.2 million will be paid, with a deferred consideration of EUR14.0 million, which will all be funded from Gamma's existing cash resources.
Gamma said that Dean One as part of Gamma can accelerate its growth and act as a focal point through which Gamma can expand its geographic footprint in the medium term.
"We are really pleased to announce the acquisition of Dean One. It is an ideal way for us to expand into a new geography, opening up another growth opportunity for us. We have known the Dean One team for a number of years and see the business as a very good fit. We are really looking forward to working alongside the Dean One team as we continue to grow Gamma, leveraging our experience and resources, to capitalise on the opportunities ahead," said Chief Executive Andrew Taylor.
Shares in Gamma Communications were up 2.8% at 878.00 pence on Tuesday.
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