Completion of Acquisitions

RNS Number : 7639R

Redcentric PLC

07 July 2022

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Redcentric plc

Completion of acquisitions

Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, is pleased to announce that, following its announcement of 7 June 2022, its subsidiary, Redcentric Solutions Ltd, has completed the acquisition of the business and assets relating to the operation of three data centres ("Sungard DCs") and the provision of other colocation and network services from Sungard Availability Services (UK) Limited (in administration) ("Sungard Acquisition").

Initial consideration of £10.12m has been paid in cash, with further consideration being payable in cash pursuant to performance criteria which expire 12 months following completion.

Redcentric further announces that it has completed the acquisition of the entire issued share capital of 4D Data Centres Limited for a total cash consideration of £10m ("4D Acquisition").

Due to the nature of the transaction and the assets acquired, further details in relation to the Sungard Acquisition, including financial information, together with further details of the 4D Acquisition, will be provided in due course.

Enquiries:

Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer	[phone]
finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM) Oakley Advisory Limited - Financial Advisor Chris Godsmark / Marc Jones / James Whyms	[phone] [phone]

 

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