We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sysgroup Plc | LSE:SYS | London | Ordinary Share | GB00BYT18182 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 30.50 | 30.00 | 31.00 | 30.50 | 30.50 | 30.50 | 1,843 | 07:43:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Computer Related Svcs, Nec | 21.65M | -7k | -0.0001 | -3,050.00 | 14.93M |
TIDMSYS
RNS Number : 1076D
SysGroup PLC
24 June 2019
24 June 2019
SysGroup plc
("SysGroup" or the "Company" or the "Group")
Acquisition of Hub Network Services Limited
SysGroup PLC (AIM:SYS), the multi award-winning managed IT services and cloud hosting provider is pleased to announce that it has today acquired 100% of the issued share capital of Hub Network Services Limited ("HNS"), a well-established B2B managed services provider with a primary focus on delivering fast, low latency network connectivity and co-location solutions (the "Acquisition"). The Board expects the acquisition to be immediately earnings enhancing.
The total consideration for the Acquisition is GBP1.45m in cash (on a cash-free/debt-free basis with normalised working capital) settled in full on completion. The Acquisition has been financed from the Group's existing cash resources. The existing management of HNS will remain with the Group for a period of three months to facilitate a handover of day to day operations.
Information on HNS
Established in 1997, Bristol-based, HNS provides managed connectivity and co-location solutions to approximately 120 customers on both a direct and in-direct basis. Customers typically contract for 36-month periods with HNS providing security and visibility of forward-looking revenue. HNS's core network infrastructure coupled with its supply agreements with multiple UK network operators will provide material benefits to the enlarged Group; broadening our service offering as well as providing cost synergies. This will further enhance our managed service solutions proposition to our customers.
For the financial year ended 31 October 2018, HNS delivered revenue and profit before tax of GBP1.84m and GBP0.22m respectively, with revenue increasing 45% since 2016. Gross assets as at 31 October 2018 stood at GBP0.8 million.
Adam Binks, Chief Executive Officer commented:
"I am thrilled to have made our second acquisition of the year and look forward to working with the HNS team in due course. The acquisition of HNS further complements our existing services, enabling us to offer our customer base an even wider range of enterprise-grade managed connectivity services alongside our existing managed IT services portfolio."
For further information please contact: Tel: 0151 559 1777 SysGroup plc Adam Binks, CEO Martin Audcent, CFO Shore Capital (Nomad and Broker) Tel: 020 7408 4090 Edward Mansfield / Daniel Bush / Anita Ghanekar Alma PR (Financial PR) Tel: 020 3405 0205 Josh Royston / Hilary Buchanan / Helena Bogle
About SysGroup
SysGroup is a leading provider of Managed IT Services, Cloud Hosting, and expert IT Consultancy. The Group delivers solutions that enable clients to understand and benefit from industry leading technologies and advanced hosting capabilities. SysGroup focuses on a customer's strategic and operational requirements - enabling clients to free up resources, grow their core business and avoid the distractions and complexity of delivering IT services.
The Group has offices in Liverpool, Coventry, London, Telford, Newport & Bristol.
For more information, visit http://www.sysgroupplc.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 rns@lseg.com or visit www.rns.com.
END
ACQEXLFLKQFBBBB
(END) Dow Jones Newswires
June 24, 2019 02:00 ET (06:00 GMT)
1 Year Sysgroup Chart |
1 Month Sysgroup Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions