Redstone is a leading provider of IT and Communications solutions for businesses and organisations of all types and sizes. Redstone is uniquely positioned as the only IT and Communications provider within the UK and Ireland to be able to offer all core competencies in house. Each division is recognised as a market leader in its own right:

Redstone Telecom fixed line telephony
Redstone Mobile mobile telephony
Redstone Converged Solutions IP networks and IP telephony
Redstone Managed Solutions - Microsoft applications, server/desktop and network integrity
Redstone Technology enterprise server and storage area networks

Redstone plc (Redstone), the leading provider of communications and IT solutions, has completed the acquisition of Tolerant Systems Ltd, Net-Adept Limited, Net Quest Solutions Limited and Trent Datacomms Limited (together the Tolerant Group of Companies), some of the UK's leading providers of Network Security Solutions.

Tolerant is a Network Management, Monitoring, Analysis and Security Provider and has the exclusive rights to sell Computer Associates anti-virus and anti-spyware products to larger businesses in the UK. As such, it enables Redstone to offer an additional range of highly valued services to its customers in partnership with one of the world's largest IT management software providers.

The Tolerant Group of Companies will be integrated into Redstone Managed Solutions, an operating division of Redstone plc and will greatly enhance this divisions market proposition. The Tolerant Group of Companies are based in Stoke on Trent and have a total of 36 employees. Its unaudited results for the 12 months on a pro forma basis to May 2006 showed that it achieved aggregate revenues of 5.5m and adjusted EBITDA of 0.7m.

Total gross consideration amounts to 3.75m constituting; 1.6m in cash, 0.8m of loan notes, with interest to be charged at 0.25 per cent (gross) above the published base rate of Barclays Bank PLC (Barclays), and the balance to be satisfied by the issue of 25,000,000 new ordinary shares of 1p each (New Ordinary Shares). The cash consideration is to be funded from Redstone's existing facilities with Barclays. Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 24 July 2006.

The Tolerant Group of Companies management team will remain with the business and report into Tariq Saied, MD Redstone Managed Solutions. The current major shareholder and MD of Tolerant, Nick Tunstall, will remain with the business for up to six months to assist with a smooth integration with Redstone.

Martin Balaam, CEO Redstone commented, "This is an excellent move for Redstone Managed Solutions, not only does it add necessary scale to this business but Tolerant also brings additional skills into the division. There are also significant cross selling opportunities as Redstone looks to sell the Network Security products across the whole Redstone customer base. We welcome onboard the Tolerant team and look forward to working with them.

"This acquisition combined with the offer for Symphony Telecom Holdings plc, which was declared wholly unconditional yesterday, represents the initial stage of Redstones stated strategy to become one of the leading IT and communications solution providers in the UK and Ireland. As such Redstone will continue to look for other earnings enhancing acquisitions in this rapidly consolidating market place."



Anyone in Redstone, company looks good to me but wanted some feedback if theres any holders amongst us?

StockMarketWire.com

Coms has conditionally agreed to acquire from Redstone its subsidiary Comunica Holdings and its wholly owned subsidiaries Comunica Group Limited and Redstone Converged Solutions (together Redstone), a significant player in the UK information technology and communications sector.

Redstone is a leader in infrastructure, smart buildings and support services with a strong financialservices client base. Founded in 1995, Redstone has a strong recognisable brand and has grown to an over £30m annual revenue base with 300 staff.

In the year ended 31 March 2013, Redstone reported turnover of £30.8m and EBITDA of £2.5m. Redstone has a list of blue chip clients and partners including Cisco, IBM and HP, and Coms has identified potential for growth in new markets and industries for the enlarged Coms Group.

The total consideration of £9.5m will be satisfied as follows:

· initial consideration of £7.65m coming from Coms's cash resources and a new £2.5m overdraft facility secured against the Redstone order book

· a further cash deferred consideration of £1.85m which will be paid on the anniversary of the date of signature of the sale and purchase agreement