Maintel Holdings PLC
12 June 2006
Maintel Holdings Plc ('Maintel')
Acquisition
Maintel, the telecommunications and data services company today announces the
acquisition of District Holdings Limited ('District') for a total consideration
of £1.025m. The consideration was satisfied entirely with existing cash.
District is a well established supplier and maintainer of telecoms equipment
based next door to Maintel's headquarters and has a strong technical focus and
loyal customer base. In the year to August 2005, District had revenues of
£1.636m and profits before tax of £4k. Its consolidated net assets at completion
were approximately £167k. At completion all three directors of District resigned
but have contracted to provide ad hoc consultancy services to enable a smooth
transition.
District's product portfolio closely matches Maintel's existing products with
the welcome addition of the Samsung telephone range.
Commenting, Tim Mason, Chief Executive of Maintel said 'We welcome the addition
of both an established customer base and a stable, high quality workforce from
District. Our two companies have very complementary product portfolios and
geographic locations making the decision to join forces a logical and
progressive step.
This acquisition will further extend Maintel's client base and broaden our scope
for selling both VoIP solutions and network based services in the years ahead.
For further information please contact:
Tim Mason, Chief Executive 020 7401 4601
Dale Todd, Financial Director 020 7401 0562
This information is provided by RNS
The company news service from the London Stock Exchange
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