ILX Group acquires 100% stake in Progility
Oct 11, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
ILX Group plc, a UK-based provider of training, consultancy and recruitment services, has acquired the entire issued share capital of Progility Pty., Limited, an Australia-based provider of communications solutions, for GBP15.97 million satisfied by the issue of 159.73 million new ordinary shares in ILX.
Announcement (September 10, 2013):
ILX has entered into an agreement to acquire the entire issued share capital of Progility for GBP15.97 million satisfied by the issue of 159.73 million new ordinary shares in ILX.
In the year ended June 30, 2013, Progility had reported revenue of AUD41.2 million ($37.68 million).
WH Ireland Limited and Spark Advisory Partners Limited are acting as financial advisors, while Tavistock Communications is acting as PR advisor to ILX.
Deal Value (US$ Million) 25.02
Deal Type Acquisition
Sub-Category 100% Acquisition
Deal Status Completed: 2013-10-07
Target (Company) Progility Pty., Limited
Acquirer (Company) ILX Group plc
The acquisition will strengthen ILX by adding systems integration capability as well as consulting skills and solutions in the communications sector, providing opportunities for the existing training, consulting and recruitment businesses and reducing dependence on training.
[ Back To Technology News's Homepage ]