Business
Acquisition
Acquisition.
About this update from Calnex Solutions Plc
[{"type":"text","content":"\n Calyx Group PLC\n01 March 2006\n\n\n\nFOR IMMEDIATE RELEASE 1 March 2006\n\n \n Calyx Group plc\n\n ('Calyx')\n\n\n Calyx completes its largest acquisition to date and acquires Ireland's leading\n IT security specialist\n\n\nCalyx, the largest single-source providers of information and communication\ntechnology ('ICT') network solutions throughout Ireland, today announces the\nacquisition of Entropy Ltd ('Entropy'), the Dublin based IT security specialist\nfor a total consideration of €4.95million (£3.37 million) through cash and\nshares.\n\nThe initial consideration of €4 million comprises of €2.98 million (£2.03\nmillion) in cash and 1.06 million ordinary shares of €0.10 each (valued at €1.02\nmillion (£0.69 million) based on yesterday's closing price of 65.5p). Management\nwill be locked in for 12 months post the acquisition. Further deferred\nconsideration of up to €0.95 million (£0.65 million) is payable again in cash\nand shares upon the achievement of specific performance criteria 12 months from\nthe date of the acquisition.\n\nEstablished in 1993, Entropy is Ireland's leading IT security specialist and\ndelivers security solutions that help clients across all industries secure their\nbusiness assets. From design and implementation to support and management,\nEntropy provides a single point of contact for securing complex networks.\nEntropy has existing partnerships with top security providers including\nMicrosoft, Nokia, Trend Micro, Websense, Check Point, IronPort and RSA Security.\n\nAs companies in the UK and Ireland adopt a 'zero tolerance' approach to the\nsecurity and integration of their I.T. networks and infrastructures, their\nrequirements for outside services and support are becoming more sophisticated\nand demanding. In addition the incorporation of best practice guidelines and\nI.T. governance frameworks, such as BS7799, have created a growing market for\nfocused skilled companies such as Entropy. The combination of Entropy's\ncapability and the existing Calyx resource has created a very significant\npresence in the UK and Irish security services sector.\n\nEntropy's current customer base covers all industry sectors including: retail,\ninvestment, pharmaceutical, leisure, transport and local authority, and include\nWaterford Crystal; the Grafton Group - the UK-listed building and plumbing\n...