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Ordinary Shares | TG:SDL | Tradegate | Ordinary Share |
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RNS Number:2099K SDL PLC 22 April 2003 SDL plc announces the acquisition of Lomac SP z.o.o. SDL plc ("SDL") is pleased to announce that it has today acquired Lomac SP z.o.o. and its subsidiary companies ("Lomac") for a maximum consideration of # 1.19 million. Lomac provides Eastern European localisation and translation services to international and local businesses, operating mainly from Poland and the Czech Republic with further offices in Croatia, Slovenia, Hungary, Romania and Russia. In the year ended December 2002, Lomac achieved a profit before tax of # 0.53 million on revenues of # 1.78 million. The net assets at December 2002 were # 0.73 million and at the time of the transaction Lomac had cash balances amounting to # 0.55 million. The consideration is being satisfied by # 0.87 million in cash and the issue of # 0.32 million of SDL shares at the current price. All of the shares and # 0.11 million of the cash consideration are being deferred over a three year period and the issue of # 0.06 million of the SDL shares is subject to certain profit targets being met by Lomac over the next two years. Commenting on the transaction, Mark Lancaster, Chairman and CEO of SDL, said - " The addition of Lomac fills another geographic niche and enhances our global reach in the provision of localisation solutions and services. It will increase SDL's presence in the growing market for international businesses requiring Eastern European localisation of their products, web sites and documentation. Lomac also brings with it a number of important customers" Enquiries: Mark Lancaster Tel: 01628 417243 This information is provided by RNS The company news service from the London Stock Exchange END ACQPUUQCCUPWUBP
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