Acquisition
July 09 2007 - 10:25AM
UK Regulatory
RNS Number:9070Z
Vega Group PLC
09 July 2007
For Immediate Release 9th July 2007
VEGA Group PLC
Acquisition of Anite Deutschland GmbH & Co. KG
VEGA Group PLC ("VEGA" or "the Group"), the specialist Professional Services
Company, is pleased to announce that it has acquired the entire issued share
capital of Anite Deutschland Management GmbH and its subsidiaries (together
"Anite Deutschland") for a total consideration of #8.0m in cash. The main
trading entity within Anite Deutschland is Anite Deutschland GmbH & Co. KG
("AKG").
AKG is a consulting, technology and managed services company based in Cologne,
Germany with over 90 employees and 80 associates working in the German defence
and financial services markets. Its clients include the German Armed Forces and
many of the leading German banks and insurance companies. The company's three
main business streams are Managed Services, SAP Consulting and Software
Assurance.
For the year ended 30 April 2007, Anite Deutschland had revenues of #11.7m and
operating profits of #0.7m and, as at that date, had gross assets of #2.9m and
net assets of #1.3m. The transaction is expected to be earnings enhancing
(before the amortisation of acquired intangibles) in the current financial year.
Phil Cartmell, VEGA CEO, commented:
"The acquisition of Anite Deutschland GmbH & Co. KG is a key part of our
strategy for international growth and will add significantly to our existing
presence in Germany. The company will give us a major German defence client
which is vital in helping our penetration into that market. The acquisition will
also open a new market sector for us in Financial Services which we believe will
give us opportunities to cross-sell other VEGA services. Anite Deutschland has a
strong and dynamic senior management team who are committed to further build the
business under the VEGA banner.
"I am very pleased to welcome Anite Deutschland to the VEGA Group and am looking
forward to the new opportunities the enlarged business will bring in both our
existing and new markets"
For further information please contact:
VEGA Group PLC: Phil Cartmell 01707 391999
Sue Bygrave
Smithfield: Reg Hoare 0207 360 4900
Tania Wild
Print resolution images are available for the media to view and download from
www.vismedia.co.uk
Notes to Editors:
About VEGA
VEGA is a specialist professional services company. It provides independent
consulting, technology and managed solutions, based on 30 years experience of
specialist market and technological domains. This enables VEGA to offer
independent expert advice and pragmatic support services in the effective
implementation of business strategy. In doing so, VEGA helps its clients to
identify business value, manage risk and realise higher levels of success from
their programmes and projects.
VEGA's principle markets are aerospace, defence and government. Its key
geographies are defined UK, Germany and Rest of Europe (France, Holland, Spain).
CONSULTING - Offers advisory services to clients on the practical implementation
of business strategy, often in the early stages of programme and project
lifecycles. Services include: Business Consulting, Enterprise & Systems
Architecture, Procurement and Capability Acquisition and Information Security
TECHNOLOGY - Develops innovative systems and tools, to support the successful
execution of client programmes and projects; builds complex bespoke solutions.
Services include Bespoke Systems, Secure Systems, Simulation Systems, Client and
VEGA R&D.
MANAGED SOLUTIONS - Provides teams of experienced, specialist practitioners to
manage and implement client programmes. Services include Managed Services,
Programme and Project Support, Science and Technology Research, Operations and
Systems Engineering.
AEROSPACE - Within the Aerospace market, VEGA supports scientific, commercial
and military programmes worldwide and has been involved in almost every European
Space Agency mission over the last 30 years. Clients include: European Space
Agency, European Commission, Inmarsat, Eumetsat, EADS Astrium, Alcatel Alenia
Space and SES Astra. On the military side, clients include BAE Systems, Thales,
CAE and EADS, working on programmes like the Eurofighter and the UK Army's new
UAV capability, Watchkeeper.
DEFENCE - VEGA has a long track record of working alongside our defence clients
to deliver strategically important defence information and communication systems
as a trusted partner. We work with UK and European defence agencies and armed
forces in the specification, acquisition, security, integration and deployment
of network enabled capability to ensure that it delivers the operational
benefits for which it is intended. Clients include the UK Ministry of Defence,
mainly through Defence Equipment and Support (DE&S). Current projects include
client side support for the Defence Information Infrastructure (DII(F)) and
Command Support Information Systems (CSIS) Integrated Project Team (IPT).
GOVERNMENT - VEGA is Catalist accredited and works with Government departments
and agencies to ensure that transformation initiatives are conceived,
implemented and integrated effectively and efficiently. We help our clients
deliver citizen-centric services that operate with the necessary levels of
accessibility and security. VEGA also works alongside the stakeholders of the UK
Resilience and Critical National Infrastructure communities to ensure UK
security at home and abroad. Clients include the Cabinet Office, Department of
Communities and Local Government, Home Office, Foreign & Commonwealth Office, UK
Emergency Services, Department of Trade and Industry and the Welsh Assembly
Government.
VEGA floated on the London Stock Exchange in 1992 at an issue price of 122p.
VEGA is listed in the Software & Computer Services sector, and has a RIC code of
VEG.L.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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