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
Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK), formed by the combination of French Lafarge and Swiss peer Holcim, Wednesday said its sales declined for the third quarter as well as nine months. Apparel retailer Guess? Inc. (GES) on Tuesday reported a drop in profit for the third quarter, as revenues declined 12 percent. Earnings for the quarter trumped Wall Street estimates, while revenues were in line with expectations. Guess' third-quarter profit dropped to $12.4 million or $0.15 per share... Shares of Hewlett-Packard Co. (HPQ) slipped a near 6 percent in extended session on Tuesday after the computer and printer maker reported a fourth-quarter profit and revenues that fell short of Wall Street estimates, hurt largely by continued weak demand for PC. It is for the last time HP is releasing...
comments powered by Disqus
Follow RTT