MXM Maxima Hldgs

RNS Number:9432L
Maxima Holdings PLC
13 November 2006


Embargoed until 0700                                           13 November 2006

                              Maxima Holdings plc

            Acquisition of IIL (Intertech Solutions Ireland) Limited

Maxima (AIM:MXM.L), the IT solutions and managed services company, is pleased to
announce the acquisition of IIL (Intertech Solutions Ireland) Limited
("Intertech") for a total consideration of Euro6.1million (#4.1million). Intertech
provides IT infrastructure solutions and managed services based upon Citrix
technologies. Intertech operates principally in Ireland where it is the largest
reseller and only platinum partner of Citrix in the Republic of Ireland. The
acquisition is in line with Maxima's consolidation strategy within the
fragmented IT services market. The Board anticipates that it will be earnings
enhancing in the current financial year ending 31 May 2007.

Intertech has a customer base of some 100 organisations with whom it has managed
service support agreements, principally for the Citrix software solutions; these
are in the three same market segments in which Maxima already operates, namely
manufacturing, public sector and financial services. Citrix Systems Inc provides
a suite of application delivery infrastructure software products which provide
high speed, secure access to any application software from any location over any
network. Citrix has numerous partners in Ireland and the UK, however Intertech
has attained a pre-eminent position in the Irish market. It has been partner of
the year for the last 3 years and in 2006 won 4 of Citrix's 6 partner awards for
Ireland.

For the year ending 31 December 2005, Intertech had revenues of Euro4.5million and
achieved profit before tax of Euro29,000. Net assets at the year end were
Euro1million. At completion, Intertech had cash balances of Euro680,000. Intertech has
had a compound annual growth rate of 29% over the last 3 years. Based in Dublin
with 33 employees, Intertech will be immediately integrated with Maxima's
existing managed service business. Maxima believes that Intertech's skills will
be transferable to the UK market, initially into Maxima's existing client base,
many of whom already use Citrix. In addition, a base in the Republic of Ireland
will enable Maxima to better serve its 60 existing Irish clients. The executive
directors of Intertech will continue to run the business. Robbie O'Brien
co-founder, largest shareholder and non-executive director of Intertech has
resigned, but will provide consultancy services to Maxima. Intertech was advised
by London-based TMT specialist, Cobalt Corporate Finance.

The Euro6.1m consideration will be satisfied by a cash payment of Euro4.1m (and the
issue of 738,648 new ordinary shares in Maxima ("Consideration Shares"). There
will be no earn-out. Funding for the purchase will come from debt under existing
facilities with Barclays Bank plc. Maxima will apply to AIM for admission of the
738,648 Consideration Shares, which is expected to become effective on 17
November 2006. The vendors have agreed not to sell the Consideration Shares
without the prior approval of Maxima for at least 12 months from the date of
completion of the acquisition. On Admission, the Consideration Shares will rank
pari passu with the existing ordinary shares.

Kelvin Harrison, Maxima's Chief Executive said:

"I am delighted to announce the acquisition of Intertech and to welcome the team
into Maxima. Over 50 million people across 160,000 organisations (including all
of the fortune 100) use Citrix infrastructure software to gain unlimited access
to business information in any software application from any location, on
demand. Having top-flight Citrix skills within the Maxima Group will enable us
to capitalise on the increasing trend to outsource infrastructure technology
services in order to provide more robust IT delivery."

Declan Hughes, Managing Director of Intertech said:

"Joining the Maxima Group will enhance our ability to bid for larger contracts
and enable us to accelerate of penetration of the UK market. There is an
excellent cultural fit between our two organisations enhanced by complementary
skill sets."

For further information, please contact:

Maxima
Kelvin Harrison, Chief Executive                         01242 211211
Linda Andrews, Group Finance Director                    0141 880 1000
Seymour Pierce
Mark Percy/John Depasquale                               020 7107 8000
Smithfield
Sara Musgrave/Tania Wild                                 020 7903 0676

Notes to editors:

Maxima Holdings plc floated on AIM on 24 November 2004 at an issue price of
110p. It was established to acquire businesses supplying IT solutions and
services, with the objective of building a focused IT services group. On
flotation it immediately acquired Azur Holdings Ltd, bringing together a
management team with the skill, experience and incentive to deliver significant
shareholder value, through a combination of acquisitive and organic growth. The
business implements and supports enterprise software solutions for mid-sized,
UK-based manufacturing, distribution and service organisations. These solutions
are based upon leading software suites (better list below) as well as products
developed in-house.

It has since made a further five acquisitions:

   *August 2005 - Ringwood Group plc, a specialist in content and document
    management solutions, based on Microsoft technologies;
   *September 2005 - Hanston Technology Partners Ltd, a fast growing managed
    services business providing applications support and consultancy services to
    Oracle users;
   *January 2006 - The MFG/PRO business of Seabrook Research Ltd, the sole
    Irish distributor of MFG/PRO, a manufacturing package for which Maxima was
    already the sole UK distributor;
   *May 2006 - QED Business Systems Ltd, which provides managed services for
    critical mainframe and mid-range computer systems and applications software;
    and
   *October 2006 - Cognition Solutions Ltd, provider of enterprise software
    solutions to the construction and facilities management sector.

The acquisition of Intertech is Maxima's seventh acquisition since flotation.

Maxima has grown to become an IT systems integration and managed services
company with a proven track record of delivering innovative and flexible IT
solutions and services. Maxima's in-depth knowledge of industry and business,
coupled with its skills and understanding of leading software suites such as
Oracle, Microsoft and SAP ensures its solutions and services deliver real
business benefits. The group prides itself on the quality of its service which
lead to strong customer relationships and high retention rates.




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