Computacenter to buy Swiss IT services provider

21st Jul 2011 13:03

Information technology (IT) infrastructure services and solutions provider Computacenter has acquired an 80% stake in Swiss IT services provider DAMAX for a debt free cash consideration of £54m.Under the deal terms, Computacenter has acquired 80% of the equity, as well as over £1.5m net cash of the balance sheet. The remaining 20% in DAMAX will be held by the founder of the business, who will continue as chief executive officer. Computacenter said it will acquire the remainder of the equity stake by mid-2015 for about £2.4m, which is subject to the achievement of agreed performance criteria over the next three-and-a-half years. Shares of the AIM-listed company, which had inched higher in earlier in the trading session, slipped back to trade at 460p in London.AR