2e2 acquires Morse
2e2, the business IT services company owned by Duke Street Capital, has made a ТЃ69.8m cash offer for UK infrastructure-focused technology company, Morse.
Morse's shareholders, which include Gartmore Investment Management, agreed to sell the company in a deal valuing Morse shares at 51p each. The acquisition has been financed by Hutton Collins, through a subscription for new 2e2 ordinary shares and loan notes.
2e2 and Morse had combined sales and Ebitda of £414m and £40m, respectively, as of December 2009.
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