5th Apr 2022 10:31
SysGroup PLC - Liverpool-based IT services and cloud-hosting provider - Buys Truststream Security Solutions Ltd, a managed cyber security services provider based in Edinburgh, Scotland. The acquisition worth GBP4.8 million will be funded from Sysgroup's existing cash balance and a new revolving credit facility of GBP8.0 million, the Liverpool-based firm says. In the financial year ended September 30, 2021, Truststream generated a pretax profit of GBP800,000 and revenue of GBP3.2 million.
"The addition of Truststream to the group further supports our stated strategy to become the leading provider of managed IT services to the UK mid-market," says Sysgroup Chief Executive Officer Adam Binks.
Current stock price: 28.00 pence, up 19% on Tuesday
12-month change: down 32%
By Tom Budszus; [email protected]
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