RNS Number:5690E
CybIT Holdings PLC
14 June 2006



Cybit Holdings Plc
("Cybit" or "the Group")


Acquisition of Bluefinger Limited for #1.62m


  >  Acquisition of vehicle telematics business with 200 customers and 3,700
     vehicles cementing Cybit's position as the UK's market leader in Internet
     based solutions of this kind

  >  Acquisition of maritime telematics business delivering high value Economic 
     Exclusion Zone (EEZ) solutions to a global client base including the UK
     and international governments

  >  Additional complementary solutions and intellectual property to further
     complement Cybit's growing solutions portfolio

  >  Acquisition represents significant extension to and expansion of Cybit's
     core business in a high growth environment

  >  Addition of approximately #750k of high margin, annualised, service
     based revenues expected


Cybit, the UK's leading online telematics service provider, announces the
acquisition of Bluefinger, a vehicle and maritime telematics business, for a
total consideration of #1.62m, including #0.5m of debt.  The consideration will
be met by the allotment of 2,095,102 shares and future warrants to the value of
#593,850. The warrants will be issued on 1 August 2006.

Consequently, application has today been made for 2,095,102 Cybit shares to be
admitted to trading on AIM. The new ordinary shares will rank pari passu with
the Company's existing ordinary shares and trading is expected to commence on 19
June 2006. After admission 21,959,656 Cybit shares will be in issue

In the year to 31 July 2005, Bluefinger reported turnover of #3.3m (2004:
#3.3m), a profit before tax of #36,000 (2004: #121,000) and net assets of
#769,000.  The result for the year to 31st July 2006 has been adversely impacted
by a lack of new maritime and vehicle based contract awards due to the
management team having been focussed on a potential IPO of the business.

Bluefinger, which is based in Somerset, was formed following a management
buy-out of the maritime telematics business of Thales Tracs, a world leader in
maritime systems.

Since the buy-out, Bluefinger's management has successfully developed a
significant vehicle telematics division.  Today, the division has approximately
200 customers covering a vehicle base of some 3,700.  A number of synergies
between this division and Cybit's business have been identified.  The
acquisition of Bluefinger will cement Cybit's position as the UK's market leader
in Internet based solutions of this kind.

Bluefinger's maritime telematics are used predominantly by government agencies
to protect and manage sovereign assets including valuable fish stocks.  Current
customers include the UK, Tanzanian and Ghanaian governments and the Southern
African Development Community.

Within an overall multi-billion pound market, it is estimated that Bluefinger
currently has a 30% share of available contracts in its specific target sector.
With an increased focus on coastal security around the world, the management
believes that this is an expanding marketplace with high barriers to entry and
commensurately attractive margin levels.

Additionally, Bluefinger is involved in the development of technology to track
light aircraft.

Richard Horsman, Chief Executive Officer, Cybit, added:

"I am delighted that we have completed the acquisition of Bluefinger.  This is a
significant milestone for Cybit, reinforcing our position as the UK's market
leader in Internet-based telematics solutions for vehicle operators and
extending our reach into the maritime arena where we see new and exciting
opportunities."



                                                                    14 June 2006





Enquiries:



Cybit                                              Tel: 01480 389100
Richard Horsman, Chief Executive Officer


College Hill                                       Tel: 020 7457 2020
Mark Garraway




Notes to Editors:


Bluefinger

Bluefinger has developed a major presence in vehicle telematics including
server-based solutions.  Additionally, the company is recognised as one of the
world's leading suppliers of Economic Exclusion Zone ("EEZ") management
solutions to coastal states that cover all aspects of Coastal Surveillance,
Monitoring and Control.  Bluefinger specialises in providing low cost, effective
solutions that can be fully integrated to provide an accurate picture of the
maritime environment.  Additional information is available at www.bluefinger.com


Cybit

Cybit is a leading Internet-based Telematics Service Provider (TSP) and supplier
of fleet and asset management solutions to the business-to-business sector.
Cybit's solutions portfolio includes vehicle tracking and management, lone
worker support and car pool management. Hundreds of companies across a wide
range of industries already use Cybit's online solutions to improve the
management and control of their fixed and mobile assets. Additional information
is available at www.cybit.co.uk







                      This information is provided by RNS
            The company news service from the London Stock Exchange
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