NETD Netdimensions

 

TIDMNETD 
 
RNS Number : 3917X 
NetDimensions (Holdings) Limited 
06 December 2010 
 

                        NetDimensions (Holdings) Limited 
                       ("NetDimensions" or the "Company") 
 
                                  Acquisition 
 
NetDimensions (AIM: NETD), a global provider of performance, knowledge and 
learning management systems, announces that it has acquired the tangible and 
intangible assets of Business Performance Technology, LLC ("BPTech") for a total 
consideration of US$950,000 in cash. 
 
BPTech, founded in 2000, is a US based custom courseware developer and also 
provides services in LMS hosting, platform integration and learning portal 
development & management.  BPTech is located in Rocky Hill, Connecticut and 
employs ten people (www.bp-tech.com). Its 2009 revenue was US$1.2M with US$0.1M 
in profit. 
 
In terms of consideration US$850,000 cash will be paid immediately and 
US$100,000 will be paid upon receipt by NetDimensions of satisfactory evidence 
that all outstanding loans and credit lines against the Business have been fully 
satisfied.  As a result NetDimensions will purchase the tangible and intangible 
assets:  book debts, business information, business intellectual property 
rights, business names, cash, contracts, employees, equipment, goodwill, 
intellectual property license, lease, records and systems. 
 
Peter Barrett, the founder & CEO of BPTech, will stay on with the new combined 
company and become the President of North & South America.  The existing US 
business will be folded into BPTech's existing operations. 
 
Jay Shaw, CEO, commented: "The acquisition of BPTech will give us a larger 
presence in the US and the ability to grow the business more quickly by cross 
selling the combined companies' products and services to our customers. We are 
pleased that Peter Barrett, with his years of experience in this industry, will 
stay on to run the combined operations." 
 
Peter Barrett commented: "NetDimensions is an outstanding company with excellent 
products.  The opportunity to represent them and to offer customers a complete 
range of product and service options from platform to custom development will be 
exciting for us and our customers." 
 
Enquiries: 
 
+-------------------------+----------------+-------------------------------+ 
| NetDimensions           | Jay Shaw       | Tel: +852 2122 4500           | 
| (Holdings) Limited      |                |                               | 
+-------------------------+----------------+-------------------------------+ 
|                         | Clarence Wu    | info@netdimensions.com        | 
+-------------------------+----------------+-------------------------------+ 
|                         |                |                               | 
+-------------------------+----------------+-------------------------------+ 
| Arden Partners plc      | Fred Walsh     | Tel: +44 20 7614 5917         | 
+-------------------------+----------------+-------------------------------+ 
| Nomad & Broker          |                | fred.walsh@arden-partners.com | 
+-------------------------+----------------+-------------------------------+ 
|                         |                |                               | 
+-------------------------+----------------+-------------------------------+ 
| Walbrook PR Ltd         | Paul McManus   | Tel: +44 20 7933 8780         | 
+-------------------------+----------------+-------------------------------+ 
| Financial Public        |                | Mob: +44 7980 541 893         | 
| Relations               |                |                               | 
+-------------------------+----------------+-------------------------------+ 
|                         |                | paul.mcmanus@walbrookpr.com   | 
+-------------------------+----------------+-------------------------------+ 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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