Cube8.com PLC
24 April 2001
Dynamid wraps up ByBox merger
Cube8, the AIM-quoted investment and incubation company has been informed that
Dynamid, in which it held a 33% stake, has now completed its proposed merger
with ByBox.
As a result of the merger, Cube8 now holds a 9.45% stake in ByBox Holdings.
Stuart Miller of ByBox and Dan Turner from Dynamid are now joint chief
executives of the new company.
Miller said of the deal: 'We are now in a unique position to provide the
logistics industry with a single relationship providing a complete unattended
delivery platform. The ByBox solution now includes home delivery boxes, locker
banks and an integrated delivery management system'.
Turner was also pleased about the merger. 'The market has been demanding a
fully integrated solution for some time and this merger is the first step in
consolidating the sector. The market is telling us that it likes this business
combination - ByBox's market experience and the integration skills of Dynamid,'
he said.
As part of the transaction, ByBox Holdings has also acquired Logibag UK, a
15-year-old business that operates unattended locker banks in the UK. Sites
operated by the company include Eurostar's left luggage lockers at Waterloo
station.
* For more information contact Paul Munford on 020 7479 2787 or
paulm@cube8.com
NOTES TO EDITORS:
Cube8 is a Technology, Media and Telecoms (TMT) investment company that
provides financial and intellectual capital to accelerate start-up and
early-stage businesses.
The company concentrates its business in two key areas - investment and
consultancy. The company's shares started trading on the Alternative
Investment Market of the London Stock Exchange (AIM) on 28 February, 2000.