RNS Number : 2275Y
Microgen PLC
16 May 2016
microgen
www.microgen.com
16 May 2016
ACQUISITION OF INFOSCREEN (CYPRUS) LIMITED
Microgen plc ('Microgen') is pleased to announce the acquisition of Infoscreen (Cyprus) Limited
('Infoscreen') for consideration of €1.8 million. Infoscreen is based in Cyprus with additional offices in Hong Kong and
Belgrade. Infoscreen's software is used by approximately 200 clients in the Trust & Fund Administration sector providing the
business with a strong recurring revenue base.
Infoscreen and its subsidiary's revenue in the year ending 31 December 2015 was €1.0 million with
operating profit for the year of €0.1 million. The net liabilities at 31 December 2015 were €0.2 million including net bank and
vendor debt of €0.4 million.
A key element of the strategy of the Financial Systems business is to increase the proportion of
its revenue derived from the Trust & Fund Administration sector and Infoscreen represents the fourth acquisition by Financial
Systems within this sector since December 2014.
The Financial Systems business continues to progress a number of other add-on acquisition
opportunities within the wealth management sector.
Contacts
Philip Wood, Group Finance
Director
020-7496-8100
James Melville-Ross / Darius
Alexander 020-3727-1000
FTI Consulting
This information is provided by RNS
The company news service from the London Stock Exchange
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