XPT Xploite

    RNS Number : 0405J
  XploiTe PLC
  27 November 2008
   

    Xploite plc    

    Acquisition of Cantono's managed services businesses 

    27 November 2008 - Xploite plc ("Xploite", "the Group", AIM: XPT), the operator and aggregator of strategic and high growth IT services
businesses, has exchanged contracts to acquire Blue River Systems Limited ("Blue River") from Cantono plc ("Cantono") and the assets of
three of Cantono's managed services businesses for a total consideration of  �3 million in cash.  

    The transaction, which is conditional, inter alia, upon the approval of Cantono's shareholders, is scheduled to complete no later than
15 December 2008.

    The four trading units being acquired have some 45 managed services customers which will be fully integrated into Anix, the Group's
managed services division, and provide managed firewall solutions to approximately 300 customers.

    The businesses being acquired have 70 employees and in the year to 31 May 2007, the latest period for which audited accounts have been
published, they generated an operating loss of �6.95m on sales of �4.47m.  They are based in the City of London and at West Drayton,
Middlesex.  

    Ian Smith, Xploite CEO said:

    "The acquisition of these four units continues to build our managed services business, strengthens our position in the UK mid-market
managed services sector and provides considerable opportunities for cross selling. The acquisition is expected to be immediately profitable,
and will become earnings enhancing after integration which is anticipated to take eight weeks".

    Enquiries

 Xploite plc www.xploite.com          0870 737 2001
 Ian Smith, Chief Executive Officer
 Robert Arrowsmith, Finance Director

 KBC Peel Hunt Ltd                    0207 418 8900
 Oliver Scott/Nicholas Marren

 College Hill                         020 7457 2020
 Adrian Duffield/Jon Davies


This information is provided by RNS
The company news service from the London Stock Exchange
 
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