10th Oct 2011 14:35
Completion of acquisition of Z+F UK Limited
Further to our announcement on 3 October 2011, AVEVA is pleased to announce that, through its wholly owned subsidiary AVEVA Solutions Limited, on 7 October 2011 it completed the acquisition of Z+F UK Limited (a subsidiary of Z+F GmbH) for net consideration of £6.3 million on a debt free/cash free basis which has been satisfied from the company's existing cash resources.
As part of this acquisition of Z+F UK, Z+F GmbH has also been granted a licence to continue to distribute the Z+F UK software together with Z+F GmbH's laser scanning hardware products. This initial licence has been granted free of royalty up to the value of the first £1 million of royalties over the next 5 years.
Enquiries:
AVEVA Group plc | Tel: 01223 556 611 | |
Richard Longdon, Chief Executive | ||
James Kidd, Chief Financial Officer | ||
Hudson Sandler | Tel: 020 7796 4133 | |
Andrew Hayes/Wendy Baker/Alex Brennan | ||
Related Shares:
AVV.L