A spokesperson for the Cardew Group, the specialist financial communications company handling the announcement, told Comms Business Magazine,
“The Adept offer is oversubscribed and it is anticipated they will raise around £8.5 million with a market capitalisation of approximately £30m. The money has been raised to help Adept further their business plans.”
Adept Managing DirectorIan Fishwick is expected to comment further today as the news become official.
Comms Business Magazine reported last November that Adept had completed its tenth acquisition. Then, a delighted Fishwick commented,
“It has been quite a month, with two acquisitions in 32 days. Last month we bought Call Options and the integration of the business is already complete; the customers were billed by Adept for August calls. The acquisition of Talk Direct adds over 1,000 businesses to our customer base. Every single customer takes both line rental and calls. We now have over 5,000 businesses as customers. Our line rental revenue is now well over £1 million per year and an increasingly large proportion of our business base is under contract."