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
Business software giant Oracle Corp. (ORCL), Monday said it swung to a third-quarter loss after taking a $6.9 billion charge related to the new U.S. tax law. Revenues for the quarter grew 6 percent reflecting strong growth in cloud revenues. Adjusted earnings for the quarter trumped Wall Street estimates,... Canada-based cannabis company Cronos Group Inc. (CRON) and MM Enterprises USA LLC said Monday that they have formed a cross-border joint venture to cater to Canadian consumers. The move comes as Canada plans to legalize adult use of cannabis by the end of this year. MM Enterprises USA, LLC is a U.S. cannabis company with facilities in California, Nevada, and New York. Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion.
comments powered by Disqus
Follow RTT