Anite plc Acquires Genetel SAS
Anite plc ("Anite"), the leading provider of software solutions to the international wireless and leisure travel industries, today announces the acquisition of Genetel SAS ("Genetel"), a full service distributor of network testing products to French speaking markets.
Genetel is Anite's existing distributor of Nemo network testing products in France and French speaking North Africa. It employs 13 people based in Paris, France. Its solutions and services focus on quality management and mobile network performance and will enable Anite to strengthen its position in the French network testing market as LTE 4G networks roll out across Europe. This acquisition will also offer a platform from which to further develop the French speaking markets in North Africa. Genetel has an experienced technical support team and offers training and consultancy services which will add to Anite's existing network testing portfolio.
Consideration for the transaction will be around €1.5m, net of acquired cash balances. It will be funded from Anite's existing cash resources. As Genetel is an existing distributor of Anite's product, the transaction will not have a material incremental impact on Anite Group revenues or profit before tax.
Christopher Humphrey, Chief Executive, said:
"I am delighted to announce this acquisition which, whilst small in size, is strategically important. It expands our Network Testing business, broadens our professional services portfolio and strengthens our position and presence in France and North Africa as LTE 4G networks continue to roll out and begin to mature."