ACV Advance Visual

RNS Number:3376Y
Advance Visual Communications PLC
5 February 2001

     
   5 February 2001
                                   
                   ADVANCE VISUAL COMMUNICATIONS PLC
                      ACQUIRES WEBMANIA IN PARIS
                                   
                              Highlights
   
-    Advance Visual Communications plc acquires Paris based
     Internet consultancy
      
-    All paper deal, payment to be made through issue of new
     shares at 6.5p per share
      
-    Acquisition is further step towards Europe-wide group
     presence
      
-    Synergies support group's pioneering operational centralised
     production structure
      
-    Advance Visual Communications plc now operates from three
     sales locations and two production centres
   
   Advance   Visual   Communications  plc,   ("Advance"   or   the
   "Company"),  the  AIM  listed  Internet  Professional  Services
   provider  (IPS), announces today that it has reached  agreement
   to purchase Paris based Webmania in an all paper deal.
   
   Webmania  has been acquired for a consideration of #100,000  to
   be satisfied by the issue of 1,538,461 new Ordinary shares at a
   price of 6.5p per new Ordinary share. In addition, an agreement
   has  been  entered  into  whereby a deferred  consideration  of
   #35,000  satisfied  in new Ordinary shares  at  the  prevailing
   market price will be payable if sales in excess of #600,000 are
   achieved within the first 9 months post acquisition.
   
   Advance's  distinctive  operational structure  is  designed  to
   offer  operational  efficiencies  and  higher  margins  through
   centralised production facilities and localised sales  offices.
   This  highly scaleable operational structure fitted  well  with
   Webmania's model of outsourcing production. Integration will be
   efficient   and   redundancy  free  as  previously   outsourced
   production  work  will  now  be  handled  by  Advance's  strong
   Internet  and  Wireless development centre in Sophia  Antipolis
   (South of France).

   Massoud Amiri, Chief Executive Officer, Advance comments:
   
   "We were keen to commence a Paris based operation as quickly as
   possible in order to take full advantage of the strong Internet
   Professional Services demand in France. With the acquisition of
   Webmania,   we   have  an  immediate  team   of   knowledgeable
   consultants and account managers to jump-start our French sales
   operation.   It  also brings a new group of attractive  clients
   including  ADP  GSI  France, Arvor and  the  French  Veterinary
   Services  Department.  We expect a strong sales  growth  within
   the French market.
   
   "During  discussions  with Webmania we were  impressed  by  its
   skills  base and approach to servicing clients. We are  pleased
   to  have  found such a sales rich, production free facility  in
   one of Europe's fastest growing IPS markets."
   
   Notes :
   
   About Webmania
   www.webmania.fr
   
   Webmania is an Internet Professional Services business  founded
   in  November 1999. Based on Boulevard Poissoniere, Paris, it is
   in the heart of the 'Silicon Sentier' region. It has four multi-
   lingual  consultant  level employees with a  strong  blue  chip
   client  base,  which includes brands such as  ADP  GSI  France,
   Arvor  and  DSV  (the  French Veterinary Services  Department).
   Unaudited  accounts for the thirteen month  period  ended  31st
   December 2000 show the company made a loss of #4,800 based on a
   turnover of #57,000.
   
   About Advance
   www.advancevisual.com
   Advance  Visual  Communications plc floated on the  Alternative
   Investment  Market (AIM) part of the London Stock  Exchange  in
   November 2000 and trades under the stock symbol ACV. It aims to
   create  a  leading pan-European Internet Professional  Services
   (IPS)  company through a combination of acquisition and organic
   growth  and currently has operations across the UK, Switzerland
   and   France.    Advance  specialises  in  three  core   areas;
   eMarketing,  eServices and eProcesses, through which  it  helps
   companies  harness  the Internet to enhance margins  and  bring
   their  businesses  closer  to their  customers,  suppliers  and
   channels.  Advance also provides a complete range of Multimedia
   and Digital Video solutions.
   
   For further information:
   
   Massoud Amiri, Chief Executive Officer
   Advance Visual Communications plc       0207 830 9741
   
   Ali Amiri, Executive  Director
   Advance Visual Communications plc       0207 830 9741
   
   David Rydell/Billy Clegg
   Bell Pottinger Financial                0207 353 9203
   
                               - ends -

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