Managed IT and networking services provider AdEPT Technology (LON: ADT) limited the downside to last year’s Covid hit figures and the stronger momentum in the fourth quarter has continued into this year.
The purchase of cloud-based networking and cyber security services supplier Datrix for an initial £9m, will supplement organic growth this year. There is potential deferred consideration of up to £7m based on the growth of Datrix.
Datrix will be transitioned to the One AdEPT platform by September. In the year to March 2021, Datrix is estimated to have made a pre-tax profit of £600,000 and there should be £400,000 of annualised cost savings to add to that.
The AdEPT share price has been volatile since the original recommendation at 269p a share on 14 April when the Datrix a...