16th Aug 2006 07:00
Regus Group PLC16 August 2006 16 August 2006 Regus announces the strategic acquisition of Laptop Lane for $3.7 million and Managed Office Solutions for £1.7 million Regus, the world's largest provider of outsourced workplaces, today announcesthe acquisition of Laptop Lane for $3.7 million (£2 million) enabling it tostrengthen its position in the mobile working arena in airside airportlocations. Separately it has acquired Managed Office Solutions for £1.7 million,which broadens its outsourced office offer in the UK. As highlighted at the lastinvestor update in March, Regus is continuing to implement its strategy ofservicing mobile workers and broadening its offer into corporate outsourcing. Laptop Lane The acquisition of Laptop Lane expands Regus's business operations into airsideairport locations. Laptop Lane is an office and business service solution forbusiness travellers and operates 14 airside and landside business centres andretail outlets at eight airport locations across the United States. It hadrevenues of $5.9 million in the 12 months to 30 June 2005. Following completionof the acquisition Laptop Lane will be rebranded Regus Express and theexperience of current management will be retained. This reflects Regus's strategy of broadening its offer to focus on the trendtowards increased mobile and home working, the fastest growing area of itsbusiness. It is envisaged that the acquisition will be a platform for furthergrowth of airport locations in the United States and other countries. Regus currently has landside airport business centres at Amsterdam's Schipol andBrussels. The acquisition also complements Regus' Network Access membershipprogramme which allows members access to the Regus Global Network of businesscentres. In November 2005 Regus formed an alliance with Delta Airlines allowingits ground pass holders to use the Regus network. Managed Office Solutions This acquisition forms part of Regus's growth strategy in the UK with thepotential to roll-out the offer in Regus's other regions. Managed OfficeSolutions generates both income from supplying fixed-term contracts for spaceand services to major corporations and income from unused office accommodationon behalf of businesses and institutional investors. Mark Dixon, Chief Executive of Regus, said: "In March we reiterated ourcommitment to become the leader in the mobile and home arena as well ascorporate outsourcing. The acquisitions of Laptop Lane and Managed OfficeSolutions, although small, are important strategic steps in achieving thesegoals." "These acquisitions form part of a busy first-half to the year which includesfurther growth to our core business centre operations. We look forward to givinga full update at our interim results on 11th September." For further information, please contact: Regus Group plc Tel: +44 1932 895135 Mark Dixon, Chief Executive Officer Brunswick Tel: +44 20 7404 5959 Simon Sporborg / Robert Gardener Notes to Editors Regus Group plc Regus is the world's largest provider of outsourced workplaces. The RegusNetwork includes 750 business centers in 60 countries and features four brands:Regus Business Centers, HQ Global Workplaces, Stratis and Business MeetingPlaces. Locations are strategically situated in world capitals, premier businesshubs, and developing markets. Founded in 1989 by Mark Dixon with the first location in Brussels, Belgium,Regus is a pioneer in the commercial real estate industry, defining new andinnovative ways for businesses of any size to successfully manage theirworkplace needs. By delivering cost-effective offices and meeting rooms onflexible terms, Regus provides businesses the ability to create a flexibleworkplace plan that can quickly adapt to their changing needs. For moreinformation, visit www.regus.com. Laptop Lane The increased use of Blackberries and memory sticks means business travellers nolonger have to carry their laptops. Laptop Lane accommodates their need toreview work, print, and send files and attachments using traditional officeequipment in a private office within an airport terminal. Each business centre offers fully equipped, private offices with PCworkstations, Internet access, telephones with long distance and conference-callcapabilities, printing, copying, faxing, and package shipping. The retailoutlets sell a variety of business and travel-related accessories. The eight US airport locations at which Laptop Lane currently operates are:Atlanta; Chicago O'Hare; Seattle; Dallas-Ft. Worth; Salt Lake City; Cincinnati/Northern Kentucky; Oakland; and Philadelphia. Managed Office Solutions Managed Office Solution currently has over 32, 000 sq m of space undermanagement in 10 buildings in Central London, the Thames Valley and the Midlandsfrom which its provides short-to-medium-term managed office space for customersin the private and public sectors. For the year ending 31 December 2005 revenuewas £1.36 million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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