Business
Acquisition & Trading Update
Acquisition & Trading Update.
About this update from Corero Network Security Plc
[{"type":"text","content":"\n Mondas PLC\n24 November 2005\n\n\nMondas plc\n('Mondas' or 'the Company')\n\n\nACQUISITION OF BLUE CURVE LIMITED\nAND TRADING UPDATE\n\n\nMondas plc, the specialist provider of software solutions to the banking &\nsecurities and education markets, is pleased to announce the acquisition of the\nentire share capital of Blue Curve Limited ('Blue Curve'), a supplier of\nsoftware solutions to financial institutions, for a maximum consideration of £3\nmillion, to be satisfied by the issue of Mondas ordinary shares.\n\nBlue Curve's software provides customers with the ability to manage financial\ndata, create complex content, manage workflow processes and distribution of\ncontent across a wide variety of channels. Its solutions are used by both\ninvestment management and investment banking companies to ensure compliance\nwith financial and legal regulations and to improve many complex financial\ninformation processes, such as those involved in creating and distributing\nfinancial research, corporate finance documents and sales and marketing\nmaterial.\n\nBlue Curve's customers are leading financial firms in the UK and Europe. The\nBlue Curve solution is complementary to the Radica CAPS solution marketed by the\nCompany and, since there is no overlap in the respective customer bases, the\nMondas directors believe that opportunities exist for cross selling both\nsolutions across an enlarged international customer and prospect base.\n\nThe maximum consideration of £3 million comprises:\n \na) an initial consideration of £925,000, satisfied by the issue of\n 5,606,060 new Mondas ordinary shares at a price of 16.5p per share; and\n\nb) deferred consideration of up to £2,075,000, based on Blue Curve's revenues \n for the year ending 31 December 2006, after deducting any shortfall\n adjustment, at the rate of twice the excess above a minimum revenue of \n £1.15 million. The shortfall adjustment is defined as 1.5 times the amount \n by which Blue Curve's revenues for the year ending 31 December 2005 fall \n below £925,000. The deferred consideration is to be satisfied by the issue \n of up to a further 12,205,882 new Mondas ordinary shares, issued at the \n higher of 17p per share and a discount of 10 per cent. to the mid market \n price of a Mondas ordinary share on the date of the announcement of \n preliminary results for the y...