Acquisition
February 07 2003 - 12:43PM
UK Regulatory
RNS Number:2471H
Eleco PLC
7 February 2003
ELECO ACQUIRES LEONARDO INTERNET
Eleco plc ("Eleco"), the listed building systems and software applications
group, announces the acquisition of Leonardo Internet Limited ("Leonardo
Internet") for #200,000 in cash.
Leonardo Internet is a provider of integrated web and print design solutions
for the construction industry.
John Ketteley, Executive Chairman of Eleco commented:
"Leonardo Internet's activities and skill base are complementary to those of our
creative technology subsidiary, Forma Communications. I am delighted that
Leonardo Internet is joining Eleco and I look forward to its excellent
product offering being made available to Eleco's client base."
Net assets of Leonardo Internet at 30 June 2002, the date of its last audited
accounts, were #162,000. Unaudited management accounts for the six months ended
31 December 2002 showed profits before taxation of #13,000 on sales of
#170,000.
Enquiries to:
John Ketteley, Executive Chairman Tel: 01920 443830
Eleco plc
David Dannhauser, Finance Director Tel: 01920 443830
Eleco plc
Tarquin Edwards Tel: 020 7929 5599
Holborn
This information is provided by RNS
The company news service from the London Stock Exchange
END
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