BRIEF-Wavestone Announces Acquisition Of Xceed Group

April 6 (Reuters) - WAVESTONE SA:

* ANNOUNCES ACQUISITION OF UK-BASED CONSULTANCY XCEED GROUP

* ACQUISITION ACCELERATES INTERNATIONAL DEVELOPMENT OF WAVESTONE IN LINE WITH STRATEGIC PLAN WAVESTONE 2021

* TRANSACTION TAKES FORM OF A 100% ACQUISITION BY WAVESTONE OF XCEED GROUP (HOLDINGS) LIMITED’S, HEAD HOLDING COMPANY OF XCEED GROUP

* XCEED GROUP WILL BE CONSOLIDATED IN WAVESTONE’S ACCOUNTS AS OF APRIL 1 2018

* OPERATION HAS SEEN A CARVE-OUT OF FIMS ACTIVITY, EXCLUDED FROM ACQUISITION’S PERIMETER AND RETAINED BY CURRENT SHAREHOLDERS OF XCEED GROUP

* PURCHASE PRICE IS CIRCA £11.5M IN ENTERPRISE VALUE

* ADDITIONAL CONSIDERATION OF UP TO £5M CONDITIONED BY FIRM’S PERFORMANCE IN YEAR TO COME.

* ACQUISITION HAS BEEN PAID IN CASH AND FUNDED THROUGH AN EXISTING CREDIT LINE NEGOTIATED WITH WAVESTONE’S BANKS Source text for Eikon: Further company coverage: (Gdynia Newsroom)