Rosslyn Data Technologies PLC Acquisition (3685N)

TIDMRDT

RNS Number : 3685N

Rosslyn Data Technologies PLC

24 September 2019

24 September 2019

Rosslyn Data Technologies plc

("Rosslyn" or the "Group")

Acquisition of Software Trade and Assets

Rosslyn Data Technologies plc (AIM: RDT), a leading global big data technology company, is pleased to announce the acquisition of the trade and software assets of Langdon Systems Limited ("Langdon") from its administrators.

The Langdon business specialises in bulk handling of supply chain data with a strong position in Import and Export duty management systems, providing import and export data reporting, visualisation and data mining for both on-premise and cloud-based solutions.

The business has a blue-chip client base of 60 clients similar to that of Rosslyn but with little or no overlap. The acquisition will provide continuity and security for many leading UK companies that rely on Langdon's service.

Rosslyn has acquired the IP, software, assets, client list and associated contracts alongside a range of domain names, for a consideration of GBP48,750, to be funded by the Group's existing cash resources.

Rosslyn Chief Executive Officer, Roger Bullen said;

"This acquisition will allow us to apply our master data management, data mining, reporting and visualisation expertise to another key element in the supply chain for a diverse client base. We expect to migrate the software onto our platform to provide a more efficient solution for the former Langdon client base. We also hope to be able to leverage the client relationships to drive Rosslyn RAPid revenues higher over time."

Further Financial Information

Langdon Systems Limited's profits after tax for the year ended 31 December 2018 were GBP27,497 although not all the assets and liabilities of the Company form part of the transaction. Rosslyn believes the value of the assets purchased is reflected by the purchase price, given the sale has been effectuated from the formal administration process.

 
                                                               [phone] 
                                                                3345 
 Rosslyn Data Technologies    Roger Bullen, Chief Executive     [phone] 
  plc                          Officer                          3203 
                                                               [phone] 
                                                                7441 
  Ash Mehta, Chief Financial                                    [phone] 
   Officer                                                      3203 
 Cenkos Securities, 
  Nominated Adviser,                                           [phone] 
  Broker                      Giles Balleny/Max Gould           8924 
 

Notes to Editors

Rosslyn Data Technologies plc, (AIM: RDT) is a leading provider of a cloud-based big-data analytics platform. The company provides analytical services by combining four key technologies: bulk data extraction; cleansing; enrichment; and visualisation, through a single cloud platform enabling users with detailed data to make more informed decisions. Rosslyn's RAPid platform is the Group's primary product available to its multinational customers.

Further information can also be found on the Company's website at: www.rosslyndatatech.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

ACQEAXNDAADNEFF

(END) Dow Jones Newswires

September 24, 2019 02:00 ET (06:00 GMT)