Edition:
India

Cancom Buys Managed Services Provider Novosco Group


Monday, 14 Oct 2019 

Oct 14 (Reuters) - CANCOM SE ::CANCOM ACQUIRES MANAGED SERVICES PROVIDER NOVOSCO GROUP LIMITED.TOTAL VOLUME OF TRANSACTION IS APPROXIMATELY GBP 70 MILLION.TRANSACTION IS EXPECTED TO BE COMPLETED TODAY.ACQUISITION OF PARENT COMPANY WILL MAKE ENTIRE NOVOSCO GROUP, BASED IN BELFAST, UNITED KINGDOM, PART OF CANCOM GROUP.APPROXIMATELY GBP 60 MILLION WILL BE PAID TO OWNERS IN CASH.TOTAL AMOUNT OF CANCOM LTD SHARES HANDED OUT IS 7.5 PERCENT AND SELLERS WILL REMAIN ACTIVE IN OPERATING BUSINESS.SHARES OF ACQUIRING COMPANY CANCOM LTD WILL BE TRANSFERRED TO SELLERS OF NOVOSCO GROUP. 

Company Quote

52.15
1.55 +3.06%
11 Nov 2019