Acquisition
05 February 2001 - 6:00PM
UK Regulatory
RNS Number:3376Y
Advance Visual Communications PLC
5 February 2001
5 February 2001
ADVANCE VISUAL COMMUNICATIONS PLC
ACQUIRES WEBMANIA IN PARIS
Highlights
- Advance Visual Communications plc acquires Paris based
Internet consultancy
- All paper deal, payment to be made through issue of new
shares at 6.5p per share
- Acquisition is further step towards Europe-wide group
presence
- Synergies support group's pioneering operational centralised
production structure
- Advance Visual Communications plc now operates from three
sales locations and two production centres
Advance Visual Communications plc, ("Advance" or the
"Company"), the AIM listed Internet Professional Services
provider (IPS), announces today that it has reached agreement
to purchase Paris based Webmania in an all paper deal.
Webmania has been acquired for a consideration of #100,000 to
be satisfied by the issue of 1,538,461 new Ordinary shares at a
price of 6.5p per new Ordinary share. In addition, an agreement
has been entered into whereby a deferred consideration of
#35,000 satisfied in new Ordinary shares at the prevailing
market price will be payable if sales in excess of #600,000 are
achieved within the first 9 months post acquisition.
Advance's distinctive operational structure is designed to
offer operational efficiencies and higher margins through
centralised production facilities and localised sales offices.
This highly scaleable operational structure fitted well with
Webmania's model of outsourcing production. Integration will be
efficient and redundancy free as previously outsourced
production work will now be handled by Advance's strong
Internet and Wireless development centre in Sophia Antipolis
(South of France).
Massoud Amiri, Chief Executive Officer, Advance comments:
"We were keen to commence a Paris based operation as quickly as
possible in order to take full advantage of the strong Internet
Professional Services demand in France. With the acquisition of
Webmania, we have an immediate team of knowledgeable
consultants and account managers to jump-start our French sales
operation. It also brings a new group of attractive clients
including ADP GSI France, Arvor and the French Veterinary
Services Department. We expect a strong sales growth within
the French market.
"During discussions with Webmania we were impressed by its
skills base and approach to servicing clients. We are pleased
to have found such a sales rich, production free facility in
one of Europe's fastest growing IPS markets."
Notes :
About Webmania
www.webmania.fr
Webmania is an Internet Professional Services business founded
in November 1999. Based on Boulevard Poissoniere, Paris, it is
in the heart of the 'Silicon Sentier' region. It has four multi-
lingual consultant level employees with a strong blue chip
client base, which includes brands such as ADP GSI France,
Arvor and DSV (the French Veterinary Services Department).
Unaudited accounts for the thirteen month period ended 31st
December 2000 show the company made a loss of #4,800 based on a
turnover of #57,000.
About Advance
www.advancevisual.com
Advance Visual Communications plc floated on the Alternative
Investment Market (AIM) part of the London Stock Exchange in
November 2000 and trades under the stock symbol ACV. It aims to
create a leading pan-European Internet Professional Services
(IPS) company through a combination of acquisition and organic
growth and currently has operations across the UK, Switzerland
and France. Advance specialises in three core areas;
eMarketing, eServices and eProcesses, through which it helps
companies harness the Internet to enhance margins and bring
their businesses closer to their customers, suppliers and
channels. Advance also provides a complete range of Multimedia
and Digital Video solutions.
For further information:
Massoud Amiri, Chief Executive Officer
Advance Visual Communications plc 0207 830 9741
Ali Amiri, Executive Director
Advance Visual Communications plc 0207 830 9741
David Rydell/Billy Clegg
Bell Pottinger Financial 0207 353 9203
- ends -
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