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BRIEF-DWS Ltd announces acquisition of 75% shareholding in Phoenix IT&T consulting

Published 05/08/2015, 09:20 am
Updated 05/08/2015, 09:26 am
© Reuters.  BRIEF-DWS Ltd announces acquisition of 75% shareholding in Phoenix IT&T consulting
DWS
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Aug 5 (Reuters) - DWS Ltd DWS.AX :

* Acquisition of 75% shareholding in Phoenix it&t consulting DWS.AX

* Entered into a binding agreement to acquire 75% of the issued capital in Phoenix it & t consulting pty limited for $19.5M in cash

* Says acquisition of Phoenix is expected to provide DWS with annual revenue of over $40 million

* Says deal to be funded by debt

* Says transaction is expected to complete by the end of August 2015

* Says "on completion, DWS expects to have $24.5M of debt and cash reserves in excess of $10M"

* Deal expected to be EPS accretive in FY 2016

* Source text for Eikon ID:nASX3Zd97j

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