The maximum consideration for the Acquisition is approximately £15.4 million, consisting of an initial consideration of £5.0 million, £3.1 million being the deferred consideration and up to approximately £7.3 million being the Earnout Consideration;
The acquisition will be earnings enhancing in the first year of integration;
Rolfe & Nolan currently offers its multinational client base e-enabled, straight through processing solutions to the derivatives market-place from eight offices;
Contac’s principal windows-based software, CTMS21, complements Rolfe & Nolan’s product offerings and is widely used in the Asian Pacific markets of Singapore, China, Taiwan and Malaysia, hence bringing support infrastructure, a wider product range and larger customer base to the enlarged group;
Commenting on the acquisition, John Lodge, Chief Executive, Rolfe & Nolan Plc said: Our mission is to build on our established position as a market leader and existing strong client base. This earnings-enhancing acquisition will further ensure that we meet the global demands of the exchange traded derivatives industry.
