SKHG Sky High

    RNS Number : 4831C
  Sky High PLC
  02 September 2008
   

    Sky High Plc ("Sky High" or the "Company")

    Acquisition of Halifax Computer Services Limited

    Sky High is pleased to announce that it has acquired the entire issued share capital of Halifax Computer Services Limited ("HCS") for
the maximum consideration of �194,000, of which �94,000 is payable in cash on completion. The balance of the consideration is payable in two
equal instalments on the first and second anniversary of completion subject to certain performance criteria being satisfied.

    HCS specialises in manual data processing. The business is complementary to the existing Sky High business and also meets the group
acquisition strategy of expanding into complementary data collection and analysis businesses.

    HCS has a history of making profit and generating cash and the Sky High Board believes that there is an opportunity to grow the HCS
business further through the execution of a detailed sales and marketing plan.

    For the year ended 30 November 2007 HCS reported a profit before tax of �51,820 on turnover of approximately �269,576. As at 30 November
2007, HCS had net assets of approximately �49,938.

    Commenting Mark Mattison, founder and chief executive officer of Sky High said "We are delighted to have acquired HCS. It is a
profitable business to which we believe we can add significant value in the coming months while the Sky High business will also benefit from
HCS's experience and skill that HCS has in data processing and analysis."

    For further information, please contact:

 Sky High Plc
 Mark Mattison, Chief Executive Officer  Tel: 01937 833 933

 Blue Oar Securities Plc
 Mike Coe / Marc Davies                  Tel: 0117 933 0020


This information is provided by RNS
The company news service from the London Stock Exchange
 
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