Regenersis PLC Acquisition (7406Z)
September 22 2015 - 2:01AM
UK Regulatory
TIDMRGS
RNS Number : 7406Z
Regenersis PLC
22 September 2015
22 September 2015
REGENERSIS PLC
("Regenersis")
ACQUISITION OF US ERASURE BUSINESS TABERNUS
Regenersis Plc (AIM:RGS.L, "Regenersis", the "Group") is pleased
to announce the acquisition of Tabernus, the US market leader and
global number 2 provider of data erasure software.
Regenersis has agreed to acquire the entire issued share capital
of Tabernus LLC and Tabernus Europe Limited, together comprising
the entire operations of Tabernus. The consideration is $12
million, comprising cash payment of $10 million funded through the
Group revolver facility, and a maximum of $2 million in deferred
cash consideration payable after 2 years.
Tabernus is the market leader in data erasure software in the
USA, and the global number two player after Blancco. In addition to
its numerous accreditations from NATO, US Department of Defense and
CESG, Tabernus counts many of the world's most innovative
technology, finance and retail brands as global customers. This
transaction secures Blancco's global market position.
In the year to 30 April 2015, Tabernus generated revenues of
$3.0 million and profit before taxation of $0.4 million, with net
assets of $0.1 million before fair value adjustments as at 30 April
2015. The acquisition is expected to be earnings accretive.
Tabernus is the global number two competitor in software data
erasure, and will further strengthen Blancco's global market
position and expanding its product portfolio in certain attractive
niches.
The effective date of exchange was 9 September 2015 and
completion is anticipated to occur on 23 September 2015.
Enquiries:
Regenersis Plc +44 (0) 20 3657 7000
Matthew Peacock, Executive Chairman
Jog Dhody, Chief Financial Officer
Peel Hunt LLP (Nomad and Joint Broker) +44 (0) 20 7418 8900
Richard Kauffer
Edward Fox
Panmure Gordon (UK) Limited (Joint Broker) +44 (0) 20 7886
2500
Charles Leigh Pemberton
Tulchan Communications +44 (0) 20 7353 4200
Tom Murray
Victoria Huxster
Regenersis provides a suite of product life cycle support
services designed to help companies and their customers
successfully deploy, protect, sustain, retire and re-use digital
technology.
www.regenersis.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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