Sumo announced today the small but strategic acquisition of Red Kite Games for (net) £1.5m, satisfied by the issuance of approx.1.2 million new ordinary shares in Sumo Group, due one-year post completion. Based in Huddersfield, with 27 employees, the acquisition brings an engineering-based coding solutions capacity to the group. We increase FY19/20 revenues by 2 to 3% (from £48.7m and £55.5m), and EBITDA by 1 to 2% (from £13.7m and £15.8m). EPS increases by c1%.
01 Feb 2019
Complementary acquisition
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Complementary acquisition
- Published:
01 Feb 2019 -
Author:
Bob Liao, CFA -
Pages:
4
Sumo announced today the small but strategic acquisition of Red Kite Games for (net) £1.5m, satisfied by the issuance of approx.1.2 million new ordinary shares in Sumo Group, due one-year post completion. Based in Huddersfield, with 27 employees, the acquisition brings an engineering-based coding solutions capacity to the group. We increase FY19/20 revenues by 2 to 3% (from £48.7m and £55.5m), and EBITDA by 1 to 2% (from £13.7m and £15.8m). EPS increases by c1%.