15th May 2018 11:25
LONDON (Alliance News) - Harvey Nash Group PLC said Tuesday its Belgian subsidiary Harvey Nash NV has bought Belgian IT solutions company eMenka NV for up to EUR2 million.
The acquisition of 100% of eMenka will require an initial cash consideration of EUR1 million and a further EUR1 million deferred cash consideration subject to three-year earnings before interest and tax average performance.
For 2017, eMenka reported gross profit of EUR820,000 on turnover of EUR3.89 million and generated profit before tax of EUR210,000.
"This business will enhance our position as one of the market leaders and fast growing IT solutions businesses in Belgium, creating a larger pool of Microsoft specialists and employees to fulfil growing client demand," Harvey Nash Chief Executive Officer Albert Ellis said.
Shares in the technology recruitment and IT outsourcing company were trading at 105.85 pence, up 2.5%, Tuesday morning.
Related Shares:
Harvey Nash Group