Acquisition
Acquisition
February 15, 2011 at 2:01 AM EST
Acquisition - Top Info Computacenter plc (Computacenter), Europe's leading independent provider of IT infrastructure services, today announces that its subsidiary, Computacenter France SA (CC France), has acquired Top Info SAS and its subsidiaries (Top Info), an information technology reseller of hardware, software and services, based in Paris, France. Top Info has been acquired for an initial debt free cash consideration of EUR21 million (£17.6 million) with up to a further EUR1 million (£0.8 million) payable, subject to the financial performance of Top Info in the period to end 31 December 2011. In addition, Computacenter will pay approximately a further EUR15 million (£12.6 million) in cash for the anticipated net cash on Top Info's balance sheet on the closing date. The acquisition is expected to close at the end of March 2011, subject to competition clearance in France. Top Info currently operates from 4 locations in France and employs circa 240 people. Top Info primarily provides IT infrastructure product and supporting services to large corporations and the public sector in France. Their customer portfolio includes leading French companies such as SNCF, Crédit Agricole and EDF. Plans are in place to integrate the Top Info business into CC France, together with the Top Info management. In the year ended 31 December 2010, Top Info's PBT totalled EUR4.5 million in relevant earnings under IFRS Rules, on revenue for the same period of EUR147.2 million. The value of the gross assets acquired, amounts to EUR62.8 million, as at the same date.* Henri Viard, CC France's Chief Executive Officer commented: 'The acquisition of Top Info will enhance Computacenter France's presence within the IT infrastructure supply market to the large corporate and government market and will provide growth opportunities for its services and infrastructure solutions, through selling Computacenter's offerings into this expanded customer base.' Mike Norris, Group Chief Executive added: 'The Top Info business will strengthen the core of our French business and we are expecting the acquisition to be earnings enhancing for Computacenter in 2011.' * Note: the financial information on Top Info is sourced from unaudited consolidated annual results for Top Info for the financial year to 31 December 2010. Enquiries: Computacenter plc Mike Norris, Group Chief Executive - +44 (0) 1707 631601 Tony Conophy, Group Finance Director - +44 (0) 1707 631515 Tulchan Communications - +44 (0) 20 7353 4200 Christian Cowley Lucy Legh This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Computacenter PLC via Thomson Reuters ONE HUG1488821