Lynx Holdings Plc has announced plans to acquire computer systems integrator Computer Service Technology Group Plc for UKP2m. Lynx will pay UKP500,000 of that by issuing 961,538 shares, and the rest in cash. The group also wants to instigate an unapproved share option scheme to meet a commitment to Peter Galliott, managing director of Financial Systems Ltd – Lynx was making a share placing to buy Financial Systems Ltd for UKP2.9m in November last year. To push the share scheme and the acquisition through, the group has called an extraordinary general meeting for March 28. Computer Service Technology, which provides computer maintenance, allied support services and computer hardware distribution to value added resellers, turned over UKP6.1m for the year ending September 30, up 7.4% from last time. Profits before tax in the year were 9.5% up at UKP322,000. Sheffield-based Lynx, which turned in net profits for the year to September 30 up 320% to UKP559,000, also owns Signal Ltd, which supplies computer systems for motor traders, and Chess Valley Computers Ltd, which like Financial Systems Ltd does financial computer systems.
