16th Nov 2007 07:01
Motivcom PLC16 November 2007 Press Release 16 November 2007 Motivcom plc ("Motivcom" or "the Company") Acquisition of Protravel Limited and Protravel TB Limited Motivcom plc (AIM:MCM), a leading marketing services company providing incentiveand motivation services to a range of UK and international clients, todayannounces that it completed the acquisition of Protravel Limited ("Protravel")and Protravel TB Limited ("TB") on 15 November 2007. Protravel and TBspecialise in providing travel and entertainment related promotional solutionsto leading sales promotion agencies and FMCG brands. Their products andservices include travel promotions, group travel and incentives, sports andhospitality packages, prizes for competitions and prizewinner management. Motivcom has paid cash considerations of £1,000,000 and £150,000 for the entireissued share capitals of Protravel and TB respectively. No deferredconsideration is payable. Protravel and TB will become part of the Travel &Leisure Promotions division of Motivcom's subsidiary, P&MM Limited. It isanticipated that their merger into that division will create significantoverhead savings from 1 January 2008. Protravel had net assets of approximately £134,000 and a profit before tax ofapproximately £80,000 for the year ended 31 March 2007. TB had net assets ofapproximately £20,000 and a profit before tax of £28,000 for the year ended 31March 2007. It is anticipated that Protravel and TB will enhance Motivcom'searnings for the year ending 31 December 2008. Commenting on the acquisition, David Lebond, Executive Director for Motivcom plcand responsible for the Company's Sales Promotions and Employee Benefitsdivision, said: "This is a fantastic opportunity to strengthen our already powerful position inthe sector by acquiring a well-established leading name in this market. The twoteams have vast combined experience and there is excellent synergy betweenthem." -Ends- For further information:Motivcom plcSue Hocken Tel: +44 (0) 1908 608 [email protected] www.motivcom.com Grant Thornton UK LLPPhilip Secrett/Fiona Owen Tel: +44 (0)207 383 [email protected]/[email protected] www.gtuk.com Media enquiries:AbchurchHeather Salmond/ Georgina Bonham Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to Editors: Motivcom plc is a leading marketing services company in the business to employeesector providing incentive and motivation services to blue chip UK andinternational clients. Motivcom drives performance of direct and third partyemployees using motivation and incentive techniques for human capitalmanagement. The Company also has a fast growing consumer incentives business.Motivcom's core business divisions include: motivation and incentive programmes,incentive travel and events, employee benefits and sales promotion. Motivcom'sactivities in each sub-sector help to improve staff productivity, retention,absenteeism and increase product sales respectively. The management team has been in place since 2002. It follows a strong organicand acquisitive growth strategy. Motivcom's organic growth is driven byinvestments in innovative products such as the recently launched Spree-visacard. Since 2002, the Company has acquired Fotorama, Archer Young Ltd,Summersault Ltd, The Voucher Shop and Motivation Travel Management Limited allof which have been successfully integrated into the Company. Motivcom isconstantly exploring new acquisition targets in existing and complementary areasto further strengthen the Company's position in the business to employee space.On 12 November 2007, Motivcom acquired Zibrant Limited and its subsidiaries,which provides venue finding, event management and motivation services for itsblue chip corporate client base. Venue finding services are a new andsignificant addition to the Motivcom portfolio of business services and areexpected to provide excellent cross selling opportunities for existing Motivcomdivisions. Motivcom plc is based in Milton Keynes. It listed on the AIM market of theLondon Stock Exchange in August 2004 under the name P&MM Group plc. P&MM Groupplc was re-branded Motivcom plc (AIM: MCM) in March 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCM.L