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

Editors Pick
Chipotle Mexican Grill Inc. (CMG) on Monday reported a surge in profit for the first quarter, as revenues climbed 20 percent on new restaurant openings and strong same-restaurant sales. Earnings for the quarter trounced Wall Street expectations, but revenues fell short of estimates, hurt largely... Yahoo reported a plunge in profit, hurt by lower prices for display ads as well as one-time charges. Its results fell short of Street estimates, denoting the challenges CEO Marissa Mayer faces in implementing her turnaround plans at the Internet company. Amgen Inc. (AMGN) on Tuesday reported a surge in profit for the first quarter, as revenues grew 11 percent on better pricing and strong demand with research costs falling. Both earnings and revenues for the quarter trumped analysts' estimates. Moving ahead, the drug maker raised its outlook for the full...
comments powered by Disqus
Follow RTT