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The Panoply acquires Keep IT Simple for £26m
StockMarketWire.com
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Digital transformation consultancy The Panoply said it had acquired IT support and transformation services group Keep IT Simple for £26 million.
Keep IT Simple transformed and ran live and critical services, such as payments platforms, on behalf of clients including the Rural Payments Agency and the Department for Environment, Food and Rural Affairs.
'With a proven track record, the acquisition of Keep IT Simple enables the group to bid for ever-larger contracts across both the public and commercial sectors,' the company said.
Keep IT Simple recorded revenues for the year ended 31 December 2020 of £9.7 million and adjusted pre-tax profit of £2.7 million.
The Panoply said that following the acquisition, it now expected revenue and adjusted earnings for the year through March of not less than £48.5 million and £6.6 million, respectively.
At 9:00am: (LON:TPX) share price was 0p at 116p
Story provided by StockMarketWire.com
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