April 3, 2018 / 5:38 AM / 22 days ago

BRIEF-Wavestone: Final Negotiations To Acquire UK Consultancy Firm

April 3 (Reuters) - Wavestone SA:

* FINAL NEGOTIATIONS TO ACQUIRE A UK CONSULTANCY: WAVESTONE INTENDS TO ACCELERATE INTERNATIONAL DEVELOPMENT

* COMPANY IS A LEADING TECHNOLOGY CONSULTANCY WHO SPECIALISES IN LARGE IT TRANSFORMATION PROGRAMMES FOR MAJOR BANKS AND FINANCIAL INSTITUTIONS.

* ‍TRANSACTION WOULD TAKE FORM OF A 100% ACQUISITION BY WAVESTONE OF COMPANY’S CAPITAL​

* ‍PURCHASE PRICE WOULD BE BASED ON AN ENTERPRISE VALUE REPRESENTING CIRCA 1.2 TIMES 2017 REVENUES​

* ‍APPROXIMATELY 25% OF CONSIDERATION WOULD BE SUBJECT TO FIRM’S PERFORMANCE IN YEAR FOLLOWING COMPLETION​

* ‍DEAL IS EXPECTED TO BE COMPLETED IN APRIL​

* ACQUISITION WOULD BE FUNDED THROUGH EXISTING CREDIT LINE NEGOTIATED WITH WAVESTONE’S BANKS. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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