Eckoh is acquiring Syntec for £31m, a provider of Secure Payments solutions that bolsters its leading position in US Secure Payments whilst complementing its UK operations. Syntec has a long track record of growth, profitability and FCF generation. It generated revenues of £5.8m in the 12 months to June 2021, up 26% organic yoy, driven especially by strong progress in the US, and an operating profit of £1m. We model synergies of £0.8m in FY23, leading us to upgrade earnings by 15%. We upgrade ou ....
16 Dec 2021
Significantly accretive strategic acquisition
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Significantly accretive strategic acquisition
Eckoh plc (ECK:LON) | 42.5 0 0.0% | Mkt Cap: 123.4m
- Published:
16 Dec 2021 -
Author:
Caspar Erskine | Harold Evans | Kevin Ashton -
Pages:
3
Eckoh is acquiring Syntec for £31m, a provider of Secure Payments solutions that bolsters its leading position in US Secure Payments whilst complementing its UK operations. Syntec has a long track record of growth, profitability and FCF generation. It generated revenues of £5.8m in the 12 months to June 2021, up 26% organic yoy, driven especially by strong progress in the US, and an operating profit of £1m. We model synergies of £0.8m in FY23, leading us to upgrade earnings by 15%. We upgrade ou ....