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Vita Group Ltd Announces Acquisition Of Camelon IT

Sunday, 15 Sep 2013 06:49pm EDT 

Vita Group Ltd announced that it has secured an unconditional agreement to acquire Camelon IT (Camelon), a provider of information and communications technology (ICT) services. Camelon provides cloud technology solutions, managed data networks, and Unified Communications in the small to medium business (SMB) and enterprise sector. Under the terms of the transaction, Vita will pay an upfront purchase price of $4.6 million and an additional sum based on the delivery of certain performance targets over the next three years. The acquisition will be funded from existing cash reserves and bank facilities. It will take effect on October 1 and is expected to be earnings accretive for the Group. 

Company Quote

-0.035 -3.27%
29 Aug 2014