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
* 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)