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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Belgravium Tech | LSE:BVM | London | Ordinary Share | GB0002961224 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9446W Belgravium Technologies PLC 16 January 2006 For immediate release 16 January 2006 Belgravium Technologies Plc (BVM:AIM) Acquisition of Novo IVC Belgravium Technologies Plc ("Belgravium" or the "Group"), leaders in real time data capture systems, announces the acquisition on 13 January 2006 of Novo IVC Ltd ("Novo") from WM-data OY ("WM-data") of Finland. Novo operates from Leamington Spa, Warwickshire and supplies passenger retail systems, particularly for airlines and railways, principally using hardware provided by Touchstar Technologies Ltd ("Touchstar"), a company acquired by Belgravium in October 2005. For the year ended 31 December 2004 Novo had audited profit before tax of #653,000, and net assets of #570,000. Novo's unaudited results for the year ended 31 December 2005 are expected to show profit before tax of #250,000. The acquisition of Novo will increase Belgravium's presence in the passenger transport market and will be highly complementary to Touchstar. The consideration of #1,316,000 was paid in cash, as were the total estimated costs of the transaction which amounted to #375,000. At the date of the acquisition Novo had in excess of #600,000 in cash and is budgeted to achieve a profit before tax of #250,000 in 2006, on sales of #2,500,000. Novo works very closely with WM-data, a leading European information technology provider whose products include software for data collection analysis. As part of the deal, the two companies have signed a co-operation agreement aimed at further development in these growing markets. Commenting on the acquisition, Belgravium's Chairman John Kembery said: "We are particularly pleased to welcome Novo to the Group. This acquisition further increases the scope of our data capture systems and we look forward to a long association with WM-data. Following on from the successful acquisition of Touchstar, the completion of the purchase of Novo will support our expansion and growth into new vertical markets and industries." For further information, please contact: Mark Hardy Managing Director, Belgravium Technologies Plc 07768 178317 Kelly-Ann French Buchanan Communications 07958 972164 01943 883990 This information is provided by RNS The company news service from the London Stock Exchange END ACQBRGDBGDBGGLX
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