AdEPT Technology shares jump as it acquires unified communications group ETS
AdEPT Technology Group PLC saw its shares jump in early trading Thursday after it signed an agreement to acquire UK-based unified communications services provider ETS Communications Holdings Limited.
The telecoms firm said the £2.5mln acquisition was expected to improve its revenue run rate by around 5% and had become effective from 1 November.
A further consideration of up to £1.75mln may be payable to ETS based on its trading performance in the 12 months following the acquisition.
based in Wakefield, ETS provides unified communications and connectivity to businesses within the public sector and currently manages could-based telephony for more than 200 GP surgeries.
AdEPT also said it had signed a £5mln extension to its existing 5-year revolving credit facility, taking the total to £35mln.
The enlarged facility would be used to fund acquisitions of businesses that extended its product set and would benefit from economies of scale.
Ian Fishwick, chief executive of AdEPT, said the acquisition of ETS would build on the capabilities of AdEPT’s specialist Avaya IP Office operation in Northampton while also extending its reach to Yorkshire and Lincolnshire.
The acquisition follows closely behind the firm's purchase of IT services provider Shift F7 in a £7.9mln deal in August.
He added that the acquisition was expected to be earnings enhancing immediately after completion.
Shares were up 2.8% at 365p.
Source: proactiveinvestors
Industry: Unified communication news
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