Gamma Communications plc (AIM:GAMA) acquired Satisnet Limited on £20 million August 16, 2023. There was an initial payment to the sellers of £10.1 million (excluding amounts paid for cash acquired and working capital). In addition, there is £2.8 million in Gamma shares payable by October 2023 and a further £2.1 million payable in cash. There is also an earn out agreement based on revenue and growth profit targets for 18 months to December 31, 2024 and 2025. This may result in an additional consideration of up to £5 million , of which 80% will be in cash and 20% by the issue of consideration shares Satisnet has 48 employees.

Gamma Communications plc (AIM:GAMA) completed the acquisition of Satisnet Limited on August 16, 2023.