MAI Maintel Holdings Plc

TIDMMAI

RNS Number : 9760S

Maintel Holdings PLC

29 June 2018

Maintel Holdings Plc

("Maintel", the "Company" or the "Group")

Acquisition

Maintel Holdings Plc, the fast-growing provider of managed communications, is pleased to announce a strategic partnership with Atos and the acquisition of certain UK customer contracts with a total net consideration of GBP5.1 million (the "Acquisition").

Highlights of the Acquisition:

-- Maintel is acquiring a customer base which has been divested in order for Atos to focus on a growth strategy through its partners and large customer accounts.

   --      Following the Acquisition, Maintel will become a new channel partner of Atos. 

-- The customer contracts acquired are to be transferred to Maintel and revenue will be billed by Maintel, commencing 1 July 2018.

-- The consideration of the Acquisition is payable over a period of 4 and half years with spread payment instalments and will be satisfied using the Company's existing cash resources.

   --      The Acquisition is expected to be accretive in the first full year of ownership. 

For further information please contact:

 
 
                                                  020 7401 
 Eddie Buxton, Chief Executive                        4601 
                                                  020 7401 
 Mark Townsend, Chief Financial Officer               4663 
 
 finnCap 
 Jonny Franklin-Adams / Emily Watts (Corporate 
  Finance)                                        020 7220 
  Stephen Norcross (Corporate Broking)                0500 
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

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

ACQUWSNRWBANUAR

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