PROACTIS Holdings PLC Completion of acquisition (6213Z)

TIDMPHD

RNS Number : 6213Z

PROACTIS Holdings PLC

10 February 2014

 
 Date:              10 February 2014 
 On behalf of:      PROACTIS Holdings PLC ("PROACTIS" the "Company" 
                     or "the Group") 
 Embargoed until:   0700hrs

PROACTIS Holdings PLC

Completion of Acquisition

Further to the announcement dated 14 January 2014, PROACTIS Holdings PLC, the specialist Spend Control software provider, is pleased to announce that the acquisition of EGS Group Limited completed today.

Rod Jones, CEO commented:

"I am very pleased to announce the successful completion of the acquisition of EGS Group. The acquisition is an excellent strategic fit, and will benefit profitability through significant operational synergies. In addition, the acquisition adds 70 clients and substantial scale to the Group and means we are now the largest independent eProcurement solution provider to the UK Public Sector. We look forward to the process of integrating the business and continuing to update the market on our progress."

Enquiries:

 
 PROACTIS Holdings PLC 
 Rod Jones, Chief Executive Officer     Via Redleaf Polhill 
  Tim Sykes, Chief Financial Officer 
 Redleaf Polhill 
 Rebecca Sanders-Hewett 
  Jenny Bahr 
  Rachael Brown                         0207 382 4730 
 
 finnCap Limited 
  Stuart Andrews 
  Charlotte Stranner                    0207 220 0500

Notes to Editors:

PROACTIS creates, sells and maintains specialist software which enables organisations to streamline, control and monitor all internal and external expenditure, other than payroll. PROACTIS is used in over 300 organisations around the world from the commercial, public and not-for-profit sectors. It is the largest independent eProcurement solution provider to the UK Public Sector.

PROACTIS is head quartered in Wetherby, West Yorkshire. It develops its own software using an in-house team of developers and sells through both direct and indirect channels via a number of Accredited Channel Partners.

PROACTIS floated on the AIM market of the London Stock Exchange in June 2006.

CLOUD COMPUTING is defined as location-independent computing, whereby shared servers provide resources, software, and data to computers and other devices on demand, as with the electricity grid.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQQKODQABKDDBK

Proactis (LSE:PHD)
Historical Stock Chart
From Jun 2024 to Jul 2024