• Non-network based telecommunications company
• Provides fixed line calls, line rental, telephony, and broadband
• Serves variety of sector including education and government
What AdEPT does
AdEPT Technology PLC (LON:ADT) is a non-network based telecommunications company that provides fixed line calls, line rental, telephony, and broadband to business and residential customers.
The group serves a wide variety of sectors in the UK including health, education and government as well as both small and big businesses.
• In late April, AdEPT said it would acquire Advanced Computer Systems (ACS), a well-established UK-based specialist provider of IT services focused on the education sector, for an initial payment of £5.24mln
• The acquisition of ACS is expected to enhance AdEPT’s earnings increase its revenue run-rate by around 9%
• At the start of April, the company said it will increase its final dividend for its upcoming results for the year ended 31 March 2019. In a trading update the group said it planned to increase the final dividend to 4.9p per share from 4.5p the year before, taking the full dividend for the year 12% higher to 9.8p
Commenting on the ACS acquisition, AdEPT’s chief executive, said that the purchase would expand the capabilities and geographical reach of the company’s IT services in Yorkshire, adding that ACS had a “well-developed customer base with long term relationships” which would build upon AdEPT’s existing presence in the education sector.
Kevin McEwen, the managing director of ACS, said the team was looking forward to working with AdEPT.
“Our education focus, providing a broad range of expertise to more than 200 educational establishments, alongside our commercial clients means that AdEPT is an incredibly complementary home for our business,” McEwen said.
With shares trading at 362p as of 17 May, AdEPT carries a market cap of around £85.3mln.
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