2CRSi Finalises the Acquisition of Boston Limited
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Regulatory News:
Following the publication of the press release of November 14, 2019, 2CRSi group (Paris:2CRSI) is announcing the finalisation of its acquisition of Boston Limited, a global player in the integration, sales and marketing of IT equipment that uses the most advanced technology on the market.
As a reminder, through this transaction, 2CRSi has reached a key milestone in its development and considerably broadened its international operations. Beyond geographical complementarity, the new group will benefit from major commercial synergies and substantial economies of scale. Finally, this merger draws on the long-standing relationship between the two groups and their founders; beyond that relationship, the complementary expertise between 2CRSi (designer and manufacturer) and Boston Limited (value-added distributor and systems integrator) has been at the core of the operation.
After the audit of Boston Limited's accounts1, the group generated consolidated revenues of GBP 89.3m, for EBITDA of GBP 1.9m and net income of GBP 1.5m, in its 2018-2019 financial year (1 March 2018 - 28 February 2019).
Boston Limited is consolidated in the Group’s financial statements as from November 14, 2019.
The acquisition is financed by a medium-term loan that is part of structured financing by BNP Paribas to be syndicated with a banking pool.
The presentation of the acquisition will be available for consultation on the Group website.
Teams have started working together to share expertise; the next months will be devoted to the appreciation of the commercial synergies, definition of the common strategic plan and promotion of the newly-formed entity to the customers of both companies. At the beginning of 2020, 2CRSi will be able to communicate a revised roadmap for the new entity as much in terms of level of activity and profitability.
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About 2CRSi
Founded in Strasbourg (France), 2CRSi group develops, produces and sells ultra high-performance sell customised and environmentally-friendly servers. In 2018, 2CRSi generated a turnover multiplied by 2.1 to 65 M €. With the integration of Boston Limited acquired in November 2019, the Group has 320 employees and the offer of innovative solutions (processing, storage and network) is now distributed in more than 45 countries. 2CRSi has been listed since June 2018 on the regulated market of Euronext in Paris (ISIN Code: FR0013341781). For further information please visit: www.2crsi.com
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