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Redcentric Acquires Business and Assets of Sungard.

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Vincent

MANews-(C)2009-2022

UK-based IT managed services provider Redcentric plc's (AIM: RCN) Redcentric Solutions Ltd subsidiary has exchanged conditional contracts for the acquisition of the business and assets relating to the operation of up to three data centres and the provision of other colocation and network services from Sungard Availability Services Ltd. (in administration), the company said.

Completion of the acquisition of each of the Sungard DCs is conditional on certain revenue thresholds being met based on customers in each of the Sungard DCs agreeing new contract terms with RSL.

Completion will occur once the thresholds are met and no later than 23 days following exchange of contracts.

In the event the thresholds are not met in relation to each of the Sungard DCs, the acquisition of the relevant Sungard DC will not complete.

The value of the acquisitions is calculated by reference to the annualised recurring revenue derived from Sungard DC customers with which RSL agrees new contract terms and certain other performance criteria.

The initial minimum consideration payable on completion, assuming the acquisition of all three Sungard DCs...

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