Proactive Investors - Run By Investors For Investors

Nasstar Plc boss says Modrus acquisition brings many synergies

Nasstar Plc chief executive Nigel Redwood tells Proactive about the IT group's latest acquisition of Modrus, a supplier of  IT managed services, for £13mln in total, which, he says, brings with it many operational synergies.
The cost represented eight times the Modrus EBITDA, which the firm thinks is very good value.
Modrus posted revenues in the year to March of £6.1mln, 86% of which were contracted recurring monthly revenues, and the deal means that now 88% of Nasstar revenues will be contracted recurring.
Redwood added the acquisition brings the firm  a further three vertical markets to target - media, property services and ISVs  (independent software vendors).

Meet Gold Road Resources Ltd, Cellmid Ltd, Gold Road Resources Ltd, Altech Chemicals Ltd and Silver City Minerals Ltd at our event, Sydney, 03 October 2017. Register here »
Why Invest In Nasstar Plc? Read More Here

Register here to be notified of future Nasstar Plc articles
View full NASA profile View Profile

Nasstar Plc Timeline

July 24 2017

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use