14th Apr 2021 14:21
AdEPT Technology Group PLC - London-based information technology provider - Completes acquisition of cloud-based networking, communications, and cybersecurity solutions firm Datrix Ltd for an initial cash consideration of GBP9.0 million. Says a further earn-out consideration of up to GBP7.0 million may be payable in cash dependent upon Datrix's trading performance in the 12-month period ending March 31, 2022. Notes the total consideration will be funded out of AdEPT's new bank facility.
"This acquisition is a game-changer for AdEPT, taking us to the forefront of next generation networking delivery. Datrix, with the outstanding new products and partners it brings, builds significantly on our capabilities, adding scale and extending both our expertise and our solution breadth, which will benefit our customers in this large and growing marketplace," says AdEPT Chief Executive Phil Race.
Current stock price: 278.00 pence, up 10% on Wednesday
Year-to-date change: up 26%
By Zoe Wickens: [email protected]
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