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
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT