Business
Acquisition and Trading Updat
Acquisition and Trading Updat.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 2576K Managed Support Services PLC 15 April 2010 \n \n\n \nFOR IMMEDIATE RELEASE 15 April 2010\nManaged Support Services plc\n(\"MSS\" and the \"Company\")\n \nAcquisition of Data Sound Limited (\"DS\") & Pre-close Trading Update\n \nAcquisition of DS\n \nMSS is pleased to announce the acquisition of Data Sound Limited (\"DS\") for a total net consideration of £2.8 million, payable in cash at completion, subject to a potential post completion working capital adjustment. Data Sound is a specialist Health & Safety consultancy offering a broad range of legislative monitoring and Health & Safety services to a corporate customer base.\n \nData Sound was acquired from private vendors. Completion took place today.\n \nIn the year to September 2009, Data Sound recorded turnover of £2.3m with a reported profit before tax and certain vendor related payments of approximately £400,000.\n \nData Sound has been acquired on a cash free/debt free basis with net assets of approximately £100,000. No deferred consideration is payable after completion. \n \nFollowing completion, Data Sound will be integrated within the MSS Group and it is expected that this will yield significant administration cost savings. The principal vendor will not be continuing with the Group and all related costs will cease at completion.\n \nThe majority of Data Sound's sales are delivered on a contracted basis with contracts ranging between 1 and 3 years. Increasingly, customers recognise that best practice compliance with Health & Safety requires a continuous process and the majority of renewals are being arranged on a three year basis. The operational management team of Data Sound will be continuing with the business. \n \nThe Board of MSS believes that the transaction will be materially earnings enhancing.\...