logo
Share SHARE
FONT-SIZE Plus   Neg

Netcall Buys Serengeti Systems For GBP 2.9 Mln

Netcall plc. (NET.L), a software company, on Tuesday announced the acquisition of Serengeti Systems Ltd, an Enterprise Content Management software provider, for 2.9 million pounds. The company added the acquisition shall be material to its earnings for the year.

For the acquisition, Netcall will pay an initial consideration of 2.0 million pounds in cash, which is subject to the completion of account adjustmen, with an additional performance related payment of 0.9 million pounds in shares and cash, which is further subject to certain target achievements in 2012 and 2013 by Serengeti.

Serengeti, in the year 2011, reported a pre-tax profit of 0.3 million pounds, while revenues totaled 1.6 million pounds. Further, the company's customer base includes the likes of the University of Cambridge, Trafford Council, Forestry Commission and Metropolitan Housing Partnership, among others, said Netcall in a statement.

Monday, the stock closed at 27.00 pence on the London Stock Exchange.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

More Breaking News

0 Articles
Editors Pick
Luxury coat maker Canada Goose Inc. Is reportedly planning for an initial public offering or IPO within next three months. The Toronto based winter-apparel maker aims for a valuation of up to $2 billion and to raise up to $300 million through IPO. France-based optical-lens maker Essilor International SA (EL), Delfin and Ray-Ban maker Luxottica Group (LUX) Monday announced their plan to merge in a deal valued around $49 billion. Essilor would become a holding company with the new name "EssilorLuxottic." Uncertainty has become the name of the game, as the new president is set to assume office. Groundwork is being done for major policy overhauls, with the first step towards repealing the Obamacare taken, as Senators voted 51-48 to approve a budget resolution for achieving the same. The House is set to...
comments powered by Disqus
Follow RTT