The Alta Group Advises NetSol Technologies in CQ Systems Deal
FOR IMMEDIATE RELEASE
The Alta Group Advises NetSol Technologies in CQ Systems Deal
London-16 February 2005
The Alta Group played a significant role in organising and advising NetSol Technologies on its acquisition of UK-based CQ Systems. Following the initial approach by NetSol Technologies, The Alta Group's strategic positioning allowed it to survey the marketplace and identify possible acquisition companies with product offerings that were complementary to NetSol's.
Malcolm Ogle, a Principal in The Alta Group's European region, explained: "There were significant synergies for the CQ Systems deal. The company is experienced in providing leasing and finance companies with sophisticated accounting and administration software, together with associated services, to leasing and finance companies in Europe, Asia and Africa. CQ has some well established customers throughout Europe including Scania Finance, DaimlerChrysler Services, Broadcastle, Bank of Scotland Equipment Finance and Deutsche Leasing, some of whom are also customers of NetSol in other parts of the world."
NetSol Technologies is a leading end-to-end solution provider for the leasing and finance industry and operates globally with clients in the US, Europe, East Asia and Asia Pacific and has an operational base in Pakistan. Ogle confirmed that running from a low cost base, the combined business will have a competitive advantage in developing products for the future.
NetSol will acquire 100 per cent of CQ Systems with upfront cash and restricted NetSol stock equivalent to 50.1 per cent of the total consideration. The balance will be paid on an earn-out formula over the following 12 months. The acquisition remains subject to regulatory approval and other customary closing conditions and is expected to close by the end of the first quarter of 2005.
ABOUT THE ALTA GROUP
Founded in 1992, The Alta Group (www.thealtagroup.com) is a niche international consultancy of 24 multi-skilled leasing professionals. The Alta Group has built up an enviable team of some of the most experienced, best and brightest practitioners in the leasing industry with over 700 years' combined hands-on experience running leasing companies and in all aspects of leasing.
The Alta Group has established a reputation for excellence, helping lessors, asset financiers and other companies in the industry, both large and small around the globe, achieve long-term success in any market, by providing direction and successful strategies that address the changing business climate. The consultancy is available to anyone seeking advice on any leasing related issue. The extensive client list also includes many vendors and manufacturers.
The group's global expertise includes: strategic consulting; market entry analysis and services; market intelligence and competitive benchmarking; captive finance and vendor programme development; portfolio development and management; merger, acquisition, funding and disposal management services; professional training and education; and consumer finance.
Margaret
Waldren, MW Links
+44 (0)1372 277772
margaret@mwlinks.com
Malcolm
Ogle, The Alta Group
+44 (0)1825 713356
mogle@thealtagroup.com
Derek
Soper, The Alta Group
+44 (0)1444 891344
dsoper@thealtagroup.com
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