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November 29, 1987

ALPHAMERIC TO PAY UP TO UKP5m FOR MODEM FIRM PC COMMUNICATIONS

By CBR Staff Writer

Just days after unveiling interim profits down 46% at UKP601,000 (CI No 818), Alphameric Plc has agreed to buy PC Communications Ltd for a total of up to UKP5m. Alphameric is paying UKP1m in cash upfront for the West London modem and communications software designer and supplier. The initial money will come from a vendor placing of 390,000 shares at 261p by Phillips and Drew. Further payments of up to UKP4m in the form of convertible shares will depend on PCC’s performance over the next three years. In the year to December 31 1986, PCC made pre-tax profits of UKP235,000 on sales of UKP1.4m. Sales in the current year have shot ahead with the success of Breakout, a communications package for MS-DOS micros, and are expected to result in PCC making a material contribution to Alphameric’s second half. New Breakout products will be launched soon. Alphameric says PCC’s personal computer communications skills will complement the expertise in viewdata that Alphameric has in its Bishopsgate Terminals subsidiary. The founders, Colin Alton and Philip Rushby will be staying on as directors of the subsidiary.

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