Acquisition
23 April 2003 - 12:30AM
UK Regulatory
RNS Number:2099K
SDL PLC
22 April 2003
SDL plc announces the acquisition of Lomac SP z.o.o.
SDL plc ("SDL") is pleased to announce that it has today acquired Lomac SP
z.o.o. and its subsidiary companies ("Lomac") for a maximum consideration of #
1.19 million. Lomac provides Eastern European localisation and translation
services to international and local businesses, operating mainly from Poland and
the Czech Republic with further offices in Croatia, Slovenia, Hungary, Romania
and Russia. In the year ended December 2002, Lomac achieved a profit before tax
of # 0.53 million on revenues of # 1.78 million. The net assets at December 2002
were # 0.73 million and at the time of the transaction Lomac had cash balances
amounting to # 0.55 million.
The consideration is being satisfied by # 0.87 million in cash and the issue of
# 0.32 million of SDL shares at the current price. All of the shares and # 0.11
million of the cash consideration are being deferred over a three year period
and the issue of # 0.06 million of the SDL shares is subject to certain profit
targets being met by Lomac over the next two years.
Commenting on the transaction, Mark Lancaster, Chairman and CEO of SDL, said - "
The addition of Lomac fills another geographic niche and enhances our global
reach in the provision of localisation solutions and services. It will increase
SDL's presence in the growing market for international businesses requiring
Eastern European localisation of their products, web sites and documentation.
Lomac also brings with it a number of important customers"
Enquiries:
Mark Lancaster Tel: 01628 417243
This information is provided by RNS
The company news service from the London Stock Exchange
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