Inactive Instrument

ADET TECH

Equities

ADT

GB00B0WY3Y47

Integrated Telecommunications Services

AdePT agrees acquisition by Thetis Bidco for GBP50.3 million

February 08, 2023 at 11:02 am EST

AdEPT Technology Group PLC - Kent, England-based managed services and telecoms provider - Agrees with Thetis Bidco Ltd on terms of GBP50.3 million cash offer for its entire share capital, to be implemented via a scheme of arrangement. Each AdEPT shareholder is entitled to 201 pence per share, representing a premium of 75% to the closing price of 115p per share on February 7.

As part of the acquisition, AdEPT has cancelled its interim dividend of 2.50p for the six months ended September 30. If the transaction does not complete, the board says it will reinstate the dividend.

Current stock price: 200.00 pence, up 74% in London on Wednesday afternoon

12 month change: down 8.3%

By Holly Beveridge; Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about ADET TECH

S-Ventures files for insolvency of Lizza subsidiary	23-04-11	AN
AdEPT Technology Group's Takeover by Wavenet Group Becomes Effective	23-04-11	MT
Macquarie Group Limited and Wavenet Limited completed the acquisition of AdEPT Technology Group plc from a group of seller and others.	23-04-10	CI
AdEPT Technology takeover by Wavenet sanctioned by court	23-04-05	AN
TRADING UPDATE: Panthera raises funds, AdEPT takeover clears hurdle	23-03-29	AN
AdEPT Technology shareholders greenlight takeover	23-03-17	AN
AdEPT Technology sets March vote on takeover by Macquarie's Wavenet	23-02-22	AN
Adept Technology Group Sets Meeting Date to Vote on Wavenet Offer	23-02-22	MT
AdePT agrees acquisition by Thetis Bidco for GBP50.3 million	23-02-08	AN
AdEPT Technology Shares Up 62% After Board Accepts Thetis Bidco Offer	23-02-08	MT
AdEPT Technology Shares Leap After Company Agrees to GBP50.3 Million Takeover	23-02-08	DJ
Macquarie Group Limited and Wavenet Limited reached an agreement to acquire AdEPT Technology Group plc from a group of seller and others for £50.3 million.	23-02-07	CI
EARNINGS UPDATES: Braemar doubles payout; James Cropper cuts guidance	22-11-15	AN
Transcript : AdEPT Technology Group plc, H1 2023 Earnings Call, Nov 15, 2022	22-11-15
AdEPT Technology Group plc Reports Earnings Results for the Half Year Ended September 30, 2022	22-11-15	CI
AdEPT Technology Group plc Announces Interim Dividend in Respect of the Six Months Ended 30 September 2022, Payable on 7 April 2023	22-11-15	CI
UK earnings, trading statements calendar - next 7 days	22-11-14	AN
UK earnings, trading statements calendar - next 7 days	22-11-11	AN
UK earnings, trading statements calendar - next 7 days	22-11-10	AN
IN BRIEF: Synectics names AdEPT director Wilson as chair designate	22-11-07	AN
AdEPT Technology Group plc Announces Interim Dividend for the Six Months Ended 30 September 2022	22-09-20	CI
FTSE 100 Closes Tuesday Up as Investors Return to Safe Havens	22-07-12	DJ
Transcript : AdEPT Technology Group plc, 2022 Earnings Call, Jul 12, 2022	22-07-12
Earnings Flash (ADT.L) ADEPT TECHNOLOGY GROUP Reports FY22 Revenue GBP68.1M	22-07-12	MT
Earnings Flash (ADT.L) ADEPT TECHNOLOGY GROUP Reports FY22 Loss GBX-20.90	22-07-12	MT

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Company Profile

AdEPT Technology Group plc is a United Kingdom-based managed services and telecommunications provider. The Company provides a range of services, including cloud services, data networking, managed information technology (IT), cyber security, voice services and professional services. It operates through two segments: fixed line services and managed services. Fixed line services segment provides calls and line rental services. Managed services segment provides data connectivity, hardware, IP telephony, support and maintenance services. AdEPT Cloud services include public cloud access, cloud migration services, public cloud applications, cloud readiness assessments and private cloud services. AdEPT Nebula offers a diverse range of networking and communication solutions. It offers a range of managed IT support services designed to provide rapid access to skilled resources and to minimize the risk of systems downtime.

Sector

Integrated Telecommunications Services

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