TIDMARTA
RNS Number : 2450C
Artilium PLC
12 April 2017
For immediate release 12 April 2017
Artilium plc
("Artilium" or the "Company")
Artilium acquires Wbase to expand its offering
Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of
innovative telecommunication software and solutions, is pleased to
announce the acquisition of the entire issued share capital of
Wbase CV ("Wbase"), a web development agency based in Gent, Belgium
(the "Acquisition") for a maximum consideration of EUR410,000.
Wbase specialises in the development of Drupal websites, digital
communication and e-commerce platforms. The rationale for the
Acquisition is as follows:
-- Wbase has built a leading position in the Belgian market with
an extensive client list including Green IT Globe ("GIG"), a
growing strategic partner of Artilium;
-- Wbase will provide the professional skills and experience
Artilium requires in the front-end development of its products and
services;
-- Wbase will provide the scale and knowledge for the
development of Artilium's online presence into its retail
telecommunications markets. This will significantly enhance the web
presence of its operating companies Artilium, United Telecom, Ello,
*bliep, Livecom and Comsys;
-- Wbase provides client cross-selling and up-selling opportunities to Artilium.
Details of the Acquisition
Artilium will pay an initial consideration of EUR110,000 for
Wbase, EUR20,000 of which will be satisfied by the immediate issue
of 254,776 new ordinary shares of 5 pence each ("Ordinary Shares")
at a price of 6.75 pence per Ordinary Share (the "Initial
Consideration Shares"), being the mid-market close price of
Artilium's Ordinary Shares on 7 April 2017. The remaining EUR90,000
of initial consideration will be satisfied in cash which will
immediately be used by the vendors to satisfy an outstanding debt
owed to Wbase, resulting in this element of the consideration being
cash neutral for Artilium.
Deferred consideration of up to a maximum EUR300,000 will be
satisfied in shares and is subject to an earnout agreement, which
is contingent on a revenue target for Wbase for the 12 months
immediately following completion. In the year to 30 June 2016,
Wbase generated revenues of EUR 165,374, EBITDA of EUR 40,860 and
had net assets of EUR 47,317 as at that date.
Application will be made for the Initial Consideration Shares to
be admitted to trading on AIM and admission is expected to take
place on 18 April 2017 ("Admission"). The Initial Consideration
Shares will rank pari passu with the existing Ordinary Shares of
the Company.
Following Admission, the total number of issued Ordinary Shares
in the Company will be 311,273,201 Ordinary Shares. This figure may
be used by shareholders of the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or change to the interest in, the Company
under the FSA's Disclosure and Transparency Rules.
Bart Weijermars, Chief Executive Officer of Artilium said:
"I am delighted we have acquired such a reputable and well
established business. The team and I are looking forward to
welcoming the Wbase team to Artilium.
This acquisition will provide the skills and experience needed
in the front-end development of our products and services as well
as providing scale and knowledge to enhance our own on-line
presence. We are completely committed to ensuring a smooth
transition for all involved. The acquisition of Wbase will also
provide cross-selling opportunities underpinning our strategy to
grow significantly over the coming years."
-Ends-
For further information please contact:
About Artilium
Artilium PLC +32 (0) 5023 0300
Bart Weijermars - Chief Executive Officer
finnCap Ltd
Jonny Franklin-Adams / Scott Mathieson (corporate
finance) +44 (0) 207 220
Camille Gochez (corporate broking) 0500
Buchanan +44 (0) 207 466 5000
Richard Darby / Jamie Hooper / Catriona
Flint
Notes to editors
Artilium is a demonstrated leader in the development of next
generation communication technologies. Artilium's strategy focuses
on supporting its customers to successfully grow their business by
providing flexible, cost effective and innovative solutions.
Artilium's innovation-driven strategy empowers telecom operators
around the globe to face the tremendous challenges ahead. We
combine next-generation technology with traditional telecom
environments to create exciting new business opportunities for our
customers. This ensures that our customers are able to keep up with
rapidly evolving market demands while simultaneously growing their
businesses.
ARTA(R) is the real-time Authentication, Authorization and
Accounting (AAA) software that brings a full suite of new
functionalities to telecom Operators and virtual Operators. Thanks
to ARTA(R) value-added services portfolio, including for instance
AAA of voice, text and data services, VoIP, 3G and 4G compliance,
mobile payments and location-based services, our partners are more
than ready to meet future customer needs.
Today, multiple renowned national and international
telecommunication companies rely on Artilium to deliver voice, text
and data services to about 1.5 Million end users every day.
Artilium's "Pay-As-You-Grow" model allows us to scale our
solutions to the exact needs of our customers. As a latest
innovation, Artilium offers its product suite from the Cloud as a
PAAS (Platform As A Service), yielding ARTA's scalability,
flexibility and proven stability.
Artilium PLC is a publicly listed software company on the London
Stock Exchange (LSE/AIM: ARTA).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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