Acquisition
December 02 2009 - 7:06AM
UK Regulatory
TIDMAVI
RNS Number : 4613D
Avisen PLC
02 December 2009
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| 2 December 2009 | (AIM: AVI) |
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Avisen plc
("Avisen" or the "Company")
Acquisition of iCentric Consulting (Pty) Limited
Avisen, the AIM quoted performance management specialist, announces that it has
acquired 57.5 per cent. of the issued share capital of iCentric Consulting
(Proprietary) Limited ("iCentric") for a nominal cash consideration. iCentric is
a reseller of IBM Cognos software in South Africa and specialises in the IBM
Cognos business intelligence suite of products.
iCentric's accounts for the year ended 30 June 2009 show a net loss for the
year of ZAR 609,337 (2008: Profit of ZAR 327,042) on turnover of ZAR
17,726,761(2008: ZAR 18,669,118). The value of its net assets as at 30 June
2009 was ZAR 3,451,502.
iCentric is a specialist business intelligence
solutions provider focusing exclusively on the suite of business intelligence
products produced by IBM Cognos. Established in 2004, iCentric has in excess of
50 active customers and over 20 staff. iCentric is the leading business
intelligence provider on this particular suite of products in Johannesburg, the
largest single market in South Africa. iCentric has a long track record of
success in the region and won the Cognos Services Partner of the Year Award in
2007.
It is expected that the Company will acquire the remaining 42.5 per cent. of the
issued share capital of iCentric in the near future. A further announcement will
be made in due course.
=-END--
For further information, contact:
+----------------------------------------------------------+----------------------+
| Avisen plc | |
+----------------------------------------------------------+----------------------+
| Marcus Hanke (CEO) | Tel: +44 (0)870 880 |
| | 2978 |
+----------------------------------------------------------+----------------------+
| Louis Peacock (Executive Director and Acting CFO) | Tel: +44 (0)7899 |
| | 667533 |
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| | |
+----------------------------------------------------------+----------------------+
| NOMAD and Broker: | |
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| Merchant John East Securities Limited | Tel: +44 (0)20 7628 |
| | 2200 |
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| Bidhi Bhoma | |
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| | |
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| Financial PR: | |
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| Bishopsgate Communications | Tel: +44 (0)20 7562 |
| | 3355 |
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| Robyn Samuelson/Siobhra Murphy | |
+----------------------------------------------------------+----------------------+
| avisen@bishopsgatecommunications.com | |
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| | |
+----------------------------------------------------------+----------------------+
Notes to Editors:
Avisen
Avisen is a business and technology consultancy specialising in performance
management with a focus on strategy creation, development and implementation. It
provides advisory services and software distribution of solutions in the
corporate performance management market. Avisen aims to provide specialist
advice to enable organisations to build more effective capabilities to manage
the performance of their businesses and allow them to achieve their desired
targets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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