4th Feb 2014 10:32
LONDON (Alliance News) - Quindell PLC said Tuesday that had won an additional GBP200 million in outsourcing business contracts, increased its investment in Ingenie Ltd, and advanced plans to acquire a majority stake in Himex Ltd.
The software, consultancy and technology company the company said it had over GBP200 million of new business full contracted, which it expects will boost technology revenues ahead of expectations for 2014.
It also confirmed that it had given formal notice to exercise its option to acquire over 75% of Himex, which is a software developer. Quindell said it also has made an offer to take a direct holding in some associated and related entities to Himex.
Quindell will pay up to GBP23 million for the Himex shares, depending on the take-up on its offer. Quindell expects the acquisition to be earnings-enhancing in 2014.
Quindell increased its investment in Ingenie by six percentage points to around 40%. Quindell has been granted a formal option from shareholders in Ingenie, which when combined with its own share represents over an 80% stake in the company. It is expecting a confirmation back from the remaining shareholders to confirm an option over 100% of the shares.
Shares in Quindell were trading up 10% at 34.38 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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