Sysgroup (SYS)

 33.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 44.50p
  • 52 Week Low: 26.00p
  • Currency: UK Pounds
  • Shares Issued: 49.42m
  • Volume: 8,207
  • Market Cap: £16.31m
  • RiskGrade: 146

SysGroup acquires Hub Network Services in ?1.45m deal

By Iain Gilbert

Date: Monday 24 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Cloud hosting provider SysGroup acquired B2B managed services outfit Hub Network Services on Monday for £1.45m on a cash-free/debt-free basis.
SysGroup financed the acquisition from its existing cash resources and expects it to be immediately earnings enhancing.

The AIM-listed firm also told investors that Hub's existing management would remain with the group for three months in order to facilitate a handover of day-to-day operations.

In its last trading year, Hub delivered revenues and pre-tax profits of £1.84m and £220,000, respectively, with revenue increasing 45% since 2016.

Chief executive Adam Binks said: "I am thrilled to have made our second acquisition of the year and look forward to working with the HNS team in due course.

"The acquisition of HNS further complements our existing services, enabling us to offer our customer base an even wider range of enterprise-grade managed connectivity services alongside our existing managed IT services portfolio."

As of 1020 BST, SysGroup shares were up 1.32% at 38.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sysgroup Market Data

Currency UK Pounds
Share Price 33.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 44.50p
52 Week Low 26.00p
Volume 8,207
Shares Issued 49.42m
Market Cap £16.31m
RiskGrade 146

Sysgroup Star Ratings

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Sysgroup Dividends

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Trades for 07-Jul-2020

Time Volume / Share Price
16:12 25,000 @ 31.50p
11:06 8,207 @ 31.13p

Sysgroup Key Personnel

CEO Adam Binks
CFO Martin Richard Audcent

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