Share Name Share Symbol Market Type Share ISIN Share Description
Artilium LSE:ARTA London Ordinary Share GB00B1L7NQ30 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 8.80p 8.50p 9.50p 9.135p 8.65p 9.125p 247,300 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 8.0 -1.4 -0.5 - 27.60

Artilium PLC Artilium acquires Wbase to expand its offering

12/04/2017 7:00am

UK Regulatory (RNS & others)


Artilium (LSE:ARTA)
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RNS Number : 2450C

Artilium PLC

12 April 2017

For immediate release 12 April 2017

Artilium plc

("Artilium" or the "Company")

Artilium acquires Wbase to expand its offering

Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of innovative telecommunication software and solutions, is pleased to announce the acquisition of the entire issued share capital of Wbase CV ("Wbase"), a web development agency based in Gent, Belgium (the "Acquisition") for a maximum consideration of EUR410,000. Wbase specialises in the development of Drupal websites, digital communication and e-commerce platforms. The rationale for the Acquisition is as follows:

-- Wbase has built a leading position in the Belgian market with an extensive client list including Green IT Globe ("GIG"), a growing strategic partner of Artilium;

-- Wbase will provide the professional skills and experience Artilium requires in the front-end development of its products and services;

-- Wbase will provide the scale and knowledge for the development of Artilium's online presence into its retail telecommunications markets. This will significantly enhance the web presence of its operating companies Artilium, United Telecom, Ello, *bliep, Livecom and Comsys;

   --     Wbase provides client cross-selling and up-selling opportunities to Artilium. 

Details of the Acquisition

Artilium will pay an initial consideration of EUR110,000 for Wbase, EUR20,000 of which will be satisfied by the immediate issue of 254,776 new ordinary shares of 5 pence each ("Ordinary Shares") at a price of 6.75 pence per Ordinary Share (the "Initial Consideration Shares"), being the mid-market close price of Artilium's Ordinary Shares on 7 April 2017. The remaining EUR90,000 of initial consideration will be satisfied in cash which will immediately be used by the vendors to satisfy an outstanding debt owed to Wbase, resulting in this element of the consideration being cash neutral for Artilium.

Deferred consideration of up to a maximum EUR300,000 will be satisfied in shares and is subject to an earnout agreement, which is contingent on a revenue target for Wbase for the 12 months immediately following completion. In the year to 30 June 2016, Wbase generated revenues of EUR 165,374, EBITDA of EUR 40,860 and had net assets of EUR 47,317 as at that date.

Application will be made for the Initial Consideration Shares to be admitted to trading on AIM and admission is expected to take place on 18 April 2017 ("Admission"). The Initial Consideration Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the total number of issued Ordinary Shares in the Company will be 311,273,201 Ordinary Shares. This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to the interest in, the Company under the FSA's Disclosure and Transparency Rules.

Bart Weijermars, Chief Executive Officer of Artilium said:

"I am delighted we have acquired such a reputable and well established business. The team and I are looking forward to welcoming the Wbase team to Artilium.

This acquisition will provide the skills and experience needed in the front-end development of our products and services as well as providing scale and knowledge to enhance our own on-line presence. We are completely committed to ensuring a smooth transition for all involved. The acquisition of Wbase will also provide cross-selling opportunities underpinning our strategy to grow significantly over the coming years."

-Ends-

For further information please contact:

About Artilium

 
  Artilium PLC                                          +32 (0) 5023 0300 
 Bart Weijermars - Chief Executive Officer 
 
 finnCap Ltd 
  Jonny Franklin-Adams / Scott Mathieson (corporate 
  finance)                                              +44 (0) 207 220 
  Camille Gochez (corporate broking)                     0500 
 Buchanan                                               +44 (0) 207 466 5000 
 Richard Darby / Jamie Hooper / Catriona 
  Flint 
 

Notes to editors

Artilium is a demonstrated leader in the development of next generation communication technologies. Artilium's strategy focuses on supporting its customers to successfully grow their business by providing flexible, cost effective and innovative solutions.

Artilium's innovation-driven strategy empowers telecom operators around the globe to face the tremendous challenges ahead. We combine next-generation technology with traditional telecom environments to create exciting new business opportunities for our customers. This ensures that our customers are able to keep up with rapidly evolving market demands while simultaneously growing their businesses.

ARTA(R) is the real-time Authentication, Authorization and Accounting (AAA) software that brings a full suite of new functionalities to telecom Operators and virtual Operators. Thanks to ARTA(R) value-added services portfolio, including for instance AAA of voice, text and data services, VoIP, 3G and 4G compliance, mobile payments and location-based services, our partners are more than ready to meet future customer needs.

Today, multiple renowned national and international telecommunication companies rely on Artilium to deliver voice, text and data services to about 1.5 Million end users every day.

Artilium's "Pay-As-You-Grow" model allows us to scale our solutions to the exact needs of our customers. As a latest innovation, Artilium offers its product suite from the Cloud as a PAAS (Platform As A Service), yielding ARTA's scalability, flexibility and proven stability.

Artilium PLC is a publicly listed software company on the London Stock Exchange (LSE/AIM: ARTA).

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 12, 2017 02:00 ET (06:00 GMT)

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