20th Feb 2025 07:00
20 February 2025
Gamma Communications plc
Gamma completes acquisition of STARFACE
Further to the announcement on 14 January 2025, Gamma Communications plc ("Gamma"), a leading provider of technology-based communication services across Europe, is pleased to confirm that it has completed the acquisition of 100% of the equity of SF Technologies Holding GmbH (trading as STARFACE), a market leader in proprietary business communication and collaboration software solutions tailored to the German market, following regulatory clearance.
The terms of the transaction remain as disclosed in the 14 January 2025 announcement. £30m has been funded through the new Revolving Credit Facility, and the remainder covered by Gamma's existing cash resources. The cash outlay for the acquisition (excluding transaction costs) was €201.6m. After taking account of net cash and working capital, this equates to €196m (£164m) on a cash-free, debt-free basis.
Andrew Belshaw, CEO of Gamma, commented:
"We are delighted to have completed the acquisition of STARFACE. This marks the beginning of an exciting new chapter, allowing us to accelerate cloud adoption and innovation across the DACH region. We look forward to working closely with our new colleagues, partners, and customers to drive the future of cloud communications across Europe."
Enquiries:
| |
Gamma Communications plc Andrew Belshaw, Chief Executive Officer Bill Castell, Chief Financial Officer Rachael Matzopoulos, Company Secretary
| Tel: +44 (0)333 006 5972 |
Peel Hunt (NOMAD & Broker) Neil Patel / Benjamin Cryer / Kate Bannatyne
| Tel: +44 (0)207 418 8900 |
Deutsche Numis (Broker) Simon Willis / Hugo Rubinstein / Spencer Clark
| Tel: +44 (0)207 260 1000 |
Teneo (PR Adviser) James Macey White / Matt Low / Ffion Dash
| Tel: +44 (0)207 353 4200 |
Notes for editors:
Gamma Communications plc is a leading provider of technology-based communication services across Europe. Gamma is admitted to trading on AIM and, following the acquisition of STARFACE, employs approximately 2,200 people. Offering a range of Unified Communications, mobile, security and connectivity services, Gamma provides robust and secure end-to-end business communication solutions, enabling organisations to communicate, collaborate and offer a better customer experience.
Gamma's vision is for a better-connected world in which it can work smarter for the benefit of business, people, and the planet. Its primary market is the UK, where it delivers network-based services to SME, Public Sector, and Enterprise markets through its extensive network of trusted channel partners and direct sales and support capabilities. Expanding its presence in Europe, Gamma is continuing to grow its group of businesses focused on digital transformation by delivering services to customers via a network of channel partners in Germany, Spain, and the Benelux region.
For more information about Gamma and its comprehensive range of products and services, please visit www.gammagroup.co
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