12th Jun 2006 13:30
Maintel Holdings PLC12 June 2006 Maintel Holdings Plc ("Maintel") Acquisition Maintel, the telecommunications and data services company today announces theacquisition of District Holdings Limited ("District") for a total considerationof £1.025m. The consideration was satisfied entirely with existing cash. District is a well established supplier and maintainer of telecoms equipmentbased next door to Maintel's headquarters and has a strong technical focus andloyal customer base. In the year to August 2005, District had revenues of£1.636m and profits before tax of £4k. Its consolidated net assets at completionwere approximately £167k. At completion all three directors of District resignedbut have contracted to provide ad hoc consultancy services to enable a smoothtransition. District's product portfolio closely matches Maintel's existing products withthe welcome addition of the Samsung telephone range. Commenting, Tim Mason, Chief Executive of Maintel said "We welcome the additionof both an established customer base and a stable, high quality workforce fromDistrict. Our two companies have very complementary product portfolios andgeographic locations making the decision to join forces a logical andprogressive step. This acquisition will further extend Maintel's client base and broaden our scopefor selling both VoIP solutions and network based services in the years ahead. For further information please contact: Tim Mason, Chief Executive 020 7401 4601Dale Todd, Financial Director 020 7401 0562 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Maintel