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RXP Services Ltd Acquires Integrated Value Pty Ltd And Nobel Consulting Group Pty Ltd


Tuesday, 1 Oct 2013 04:19am EDT 

RXP Services Ltd announced that it has entered into a binding agreement to purchase Integrated Value Pty Ltd and Nobel Consulting Group Pty Ltd. Integrated Value Pty Ltd offers a range of capabilities and solutions to clients in the areas of smartforms, content management, document management and mobility solutions. The acquisition cost of Integrated Value is based on an earn-out model, with an initial non-binding amount of $3.52 million split evenly between cash and shares in RXP. Based on defined EBIT targets for the period October 1, 2013 to September 30, 2014 and October 1, 2014 to September 30, 2015, the vendors of Integrated Value may be entitled to two earn-out payments of equal value to the initial payment. The initial payment is based on 4.9x forecast EBIT for the period October 1, 2013 to September 30, 2014 with the earn-out payments reducing the overall multiple to less than 4x over the contract period. The acquisition of Nobel launches RXP’s Enterprise Service Management Practice. Nobel was founded in 2006 in response to the market requirement for best-practice IT Service Management implementation, transformation and support services. The acquisition cost of Nobel is based on an earn-out model, with an initial non-binding amount of $1.6 million payable entirely in shares in RXP. Based on defined EBIT targets for the period October 1, 2013 to September 30, 2014 the vendors of Nobel will be entitled to an earn-out payment equal to 4x EBIT in excess of $400,000. 

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28 May 2015