Acquisition
Acquisition
July 21, 2011 at 3:37 AM EDT
Acquisition - DAMAX AG Computacenter plc, Europe's leading independent provider of IT infrastructure services, today announces that it has acquired a majority stake in the Swiss IT service provider, DAMAX AG. DAMAX AG is already a significant subcontractor of services to Computacenter and this acquisition will enable Computacenter to strengthen its long-term relationships with customers present in Switzerland. Computacenter has acquired 80% of the equity, as well as over 2 million CHF net cash on the balance sheet, for a debt free cash consideration of 7.2 million CHF (5.4 million GDP). The remaining 20% stake of DAMAX AG will be held by the founder of the business who will continue as CEO. Computacenter will acquire the remaining 20% stake of the equity by mid 2015, for a cash consideration of up to 3.2 million CHF (currently 2.4 million GDP), subject to the achievement of agreed performance criteria over the next 3.5 years. Enquiries: Computacenter plc Mike Norris, Chief Executive 01707 631601 Tony Conophy, Finance Director 01707 631515 Tessa Freeman, PR Manager 01707 631514 Tulchan Communications 020 7353 4200 Christian Cowley Lucy Legh <HR/> --------------------------------------- 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 HUG1532528