Acquisition

Anite Group PLC 21 December 2000 ANITE GROUP PLC ('Anite' or the 'Company') Acquires Telecom solutions company for up to £50 million Anite Group plc, the European IT consultancy and services company, today announces that it has entered into an agreement to acquire the entire issued share capital of Calculus Solutions Limited ('Calculus'), a provider of integrated customer care and billing software solutions to European telecoms companies for a maximum consideration including earnout of £50 million. The consideration comprises an initial consideration of £14.9 million, plus a maximum earnout of £35 million payable on the satisfaction by Calculus of certain profit targets to 30 April 2003. Calculus is a leading supplier of pan-European retail, wholesale and interconnect solutions for telecommunications companies. As at 31 August 2000 (being the date to which the latest published audited accounts for Calculus have been prepared) the value of the net assets the subject of the transaction was £940,126 and the profits before tax was £1,306,211. The initial consideration of £14.9 million will be satisfied as to £6.4 million by the issue by Anite to the sellers of Calculus ('Sellers') of Anite loan notes and as to £8.5 million by the issue and allotment by Anite of 5,045,109 ordinary shares of 10 pence each in the capital of Anite ('Anite Shares'), at the rate of £1.6848 per ordinary share ('Consideration Shares'). The Consideration Shares will be allotted in instalments, the first of which comprises 3,398,221 Anite Shares. The earn-out will also be satisfied by the issue and allotment by Anite of Anite Shares. Application will be made to the Financial Services Authority and the London Stock Exchange plc for 3,398,221 Anite Shares to be admitted to the Official List. It is expected that admission of these shares will be granted on 28 December 2000 and that dealings will commence on 29 December 2000. In addition, Anite will make a contribution to the Sellers' costs in the sum of £100,000. Anite Group's Chief Executive John Hawkins, commenting on the acquisition, said: 'This addition complements our extensive telecoms offering. As our telecoms product set develops we will be able to service an even greater number of leading telecoms clients with a broader and more sophisticated set of telecoms solutions.' For further information please contact: www.anite.com Anite Group Plc 0118 945 0121 John Hawkins, Chief Executive Anite Telecoms 01252 775 200 Nigel Coxon Golin/Harris Ludgate 020 7253 2252 Edward Macquisten
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