Haynes Publishing Group PLC Acquisition of E3 Technical business from Carweb (3307S)

TIDMHYNS

RNS Number : 3307S

Haynes Publishing Group PLC

02 October 2017

Haynes Publishing Group P.L.C. ("Haynes").

Haynes (LON:HYNS) is pleased to announce that it has reached agreement on the acquisition of the E3 Technical business from Carweb Ltd., a Solera UK subsidiary, for a total cash consideration of GBP4.72 million (the "Transaction"). The consideration is being funded from Haynes' existing cash resources and banking facilities.

The E3 Technical business consists of repair and maintenance information ("RMI"), vehicle registration mark look-up ("VRM") and an associated provision of helpdesk services. The Transaction includes the acquisition of certain customer contracts, and employees from Carweb.

Commenting on the Transaction, Eddie Bell, Chairman of Haynes, said "this acquisition will significantly strengthen the Group's professional data solutions offering in the UK and provide cross over benefits for Haynes' consumer division."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:

   Haynes Publishing Group P.L.C.                                        [phone] 

E Bell, Chairman

J Haynes, Chief Executive Officer

   Investor Contact: Panmure Gordon (UK) Limited            [phone] 

Karri Vuori

Erik Anderson

James Greenwood

   Media Contact: New Century Media                                  [phone] 

Richard Hill

This information is provided by RNS

The company news service from the London Stock Exchange

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October 02, 2017 02:00 ET (06:00 GMT)