DATA Globaldata Plc

 

TIDMDATA 
 
RNS Number : 3705J 
Datacash Group PLC 
29 March 2010 
 

For immediate release 
 
29th March 2010 
 
DataCash Group Plc: DATA / Index: AIM / Sector: Support Services 
 
                DataCash Group Plc ("DataCash" or "the Company") 
 
DataCash Acquisition of outstanding 23.63% of DataCash Fraud Services Limited 
("DataCash Fraud Services") 
 
DataCash Group Plc, the AIM-listed Payment Services Provider, is pleased to 
announce that it has completed the purchase of the remaining 23.63% of 
DataCash Fraud Services, so that it now owns 100% of DataCash Fraud Services. 
DataCash Fraud Services, a subsidiary of DataCash, was incorporated in order to 
acquire The 3rd Man Group plc ("The 3rd Man"), which completed in January 2009. 
At the time of the acquisition of The 3rd Man, key management in The 3rd Man 
exchanged their shares in The 3rd Man for a 23.63% share in DataCash Fraud 
Services. DataCash Fraud Services is a UK based company specialising in 
providing software to manage fraud for online Credit and Debit card and 
alternative payments. 
 
Total consideration for the acquisition is expected not to exceed GBP2.7 
million. This comprises an initial payment of GBP1.2 million in cash and 
additional amounts payable in loan notes which in aggregate are not expected to 
exceed GBP1.5 million in principal and are subject to an earn-out structure 
which includes certain performance criteria. However, if revenues from new 
customers, or increased revenues from renewed customers, over the next two 
financial years exceed GBP3 million, further loan notes to the value of 15% of 
the excess over GBP3m would be issued. For the year ended 31 December 2008, The 
3rd Man reported audited revenues of GBP1.15m; for the year ended 31 December 
2009, DataCash Fraud Services reported unaudited revenues of GBP1.70m. 
 
The acquisition is expected to be earnings enhancing for the year ended 31 
December 2010 and will be funded from DataCash's existing cash balances. 
 
 
                                    - END - 
 
 
For further information please contact: 
 
DataCash Group Plc 
 
Paul Burton                                  Tel:   +44 (0)870 72 74 76 0 
Finance Director                            E-mail:  Paul.Burton@datacash.com 
 
 
Nominated Adviser - Investec 
Daniel Adams                               Tel: +44 (0)207 597 5970 
 
Website: www.datacash.com 
 
About DataCash: 
DataCash Group Plc (AIM: DATA), a market leading provider of payment processing 
solutions, 
 
provides merchants with a   single interface that allows them to 
process secure payments, both on and offline, anywhere in the world. 
 
DataCash also provides a range of value added services with its fraud and Risk 
Management solutions supporting AVS/CV2, 3-D Secure (Verified by Visa and 
MasterCard Secure Code) together with traditional rules-based screening. 
 
DataCash provides first-class service reliability at a fraction of the price of 
an in-house solution, servicing clients within the retail, travel, 
telecommunications and gaming sectors. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQEASDNASEEEFF 
 

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