Gamma Communications PLC (LSE:GAMA) has green-lit a £1.02 billion cash takeover by private equity firm Epiris, offering shareholders a substantial premium to the company’s pre-offer share price.
Under the terms of the deal, bid vehicle Bradbury Bidco Limited will pay 1,120p in cash. The price represents a 53% premium to Gamma’s closing price of 732p on 7 April 2026, the final trading day before the company entered an offer period.
Gamma’s board has unanimously recommended the offer, having been advised on the financial terms by Barclays and Q Advisors. Directors holding shares have also committed to vote in favour of the transaction.
Epiris said it sees scope to accelerate Gamma’s development as a private company through increased investment in products, commercial execution and innovation, including greater adoption of artificial intelligence.
Gamma provides business-critical communications technology across Europe, combining proprietary products, cloud platforms and its own telecoms network. Its customer base spans SMEs, large corporates and public-sector organisations, with particularly strong positions in the UK and Germany.
Chair Martin Hellawell said the board remained confident in Gamma’s strategy but concluded that the transaction offered shareholders “attractive and certain value in cash”.
The acquisition is expected to be implemented through a court-sanctioned scheme of arrangement and remains subject to shareholder, antitrust and regulatory approvals.
Completion is currently expected in the first half of 2027.
Gamma is due to publish interim results for the six months to 30 June 2026 on 7 September, with current trading said to be in line with the figures expected to be disclosed at that time.
