24th Sep 2019 12:41
(Alliance News) - Rosslyn Data Technologies PLC said Tuesday it acquired the assets of Langdon Systems Ltd from its administrators for GBP48,750 in cash.
Langdon is a supply chain data firm with "strong" positions in the import and export duty management systems. The acquired firm has 60 clients similar to Rosslyn, but with little overlap.
Rosslyn will fund the acquisition with existing cash assets. For the year ended April, Rosslyn generated a GBP1.7 million pretax loss on revenue of GBP7.0 million.
"This acquisition will allow us to apply our master data management, data mining, reporting and visualisation expertise to another key element in the supply chain for a diverse client base," Rosslyn Chief Executive Officer Roger Bullen said.
"We expect to migrate the software onto our platform to provide a more efficient solution for the former Langdon client base," Bullen added. "We also hope to be able to leverage the client relationships to drive Rosslyn RAPid revenues higher over time."
Shares in Rosslyn were untraded at 7.33 pence in London on Tuesday.
By Ahren Lester; [email protected]
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