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Investor Relations RNS Announcements 2005 Completion of the acquisition of Anglia Telecom Centres Ltd
Investor Relations RNS Announcements 2005 Completion of the acquisition of Anglia Telecom Centres Ltd | Completion of the acquisition of Anglia Telecom Centres Ltd 03/05/05 |
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Eckoh, one of Europe's leading speech application service providers, today announces that it completed the acquisition of Anglia Telecom Centres Limited (“Anglia”) from TTG Europe plc. on 29 April 2005, for a cash consideration of up to £10.0 million to be paid in three tranches. Initial consideration of £7.5 million was paid on completion, with a further £200,000 payable on 15th May 2005. The remaining balance of £2.3 million is payable on 31st May 2005, of which £0.5m is to be held in escrow pending resolution of certain contingent liabilities within Anglia. Together with its nominated advisor, Evolution Securities Limited, the board is continuing to review strategic options for the Eckoh Group, and will make further announcements as appropriate. Martin Turner, Chief Executive of Eckoh, commented: “We are delighted to have successfully completed the acquisition of Anglia. We believe both Anglia and our wholly-owned fixed line and mobile telephony services subsidiary Symphony Telecom are in a position to take advantage of exciting opportunities within the telecoms arena.” For further enquiries, please contact: Eckoh Technologies plc Martin Turner, Chief Executive Nik Philpot, Chief Operating Officer Tel: 08701 100 700 Buchanan Communications Mark Edwards/Jeremy Garcia Tel: 020 7466 5000 |
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