Haynes Publishing Group PLC Acquisition of E3 Technical business from Carweb (3307S)
October 02 2017 - 1:00AM
UK Regulatory
TIDMHYNS
RNS Number : 3307S
Haynes Publishing Group PLC
02 October 2017
Haynes Publishing Group P.L.C. ("Haynes").
Haynes (LON:HYNS) is pleased to announce that it has reached
agreement on the acquisition of the E3 Technical business from
Carweb Ltd., a Solera UK subsidiary, for a total cash consideration
of GBP4.72 million (the "Transaction"). The consideration is being
funded from Haynes' existing cash resources and banking
facilities.
The E3 Technical business consists of repair and maintenance
information ("RMI"), vehicle registration mark look-up ("VRM") and
an associated provision of helpdesk services. The Transaction
includes the acquisition of certain customer contracts, and
employees from Carweb.
Commenting on the Transaction, Eddie Bell, Chairman of Haynes,
said "this acquisition will significantly strengthen the Group's
professional data solutions offering in the UK and provide cross
over benefits for Haynes' consumer division."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Haynes Publishing Group P.L.C. +44 1963 442009
E Bell, Chairman
J Haynes, Chief Executive Officer
Investor Contact: Panmure Gordon (UK) Limited +44 20 7886 2500
Karri Vuori
Erik Anderson
James Greenwood
Media Contact: New Century Media +44 20 7930 8033
Richard Hill
This information is provided by RNS
The company news service from the London Stock Exchange
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