14 June 2011 – acquisition
Communisis, the marketing services provider, has acquired the trade and assets of Orchestra Bristol Limited, which is currently in administration, for a cash consideration of £2.25m. This is a marketing services business which is involved in data-services and specialist high integrity output in direct mail and transactional applications. Its main contract is for marketing communication and transactional mailing involved in the issuance of TV Licences in the UK. The contract associated with this has 4 years left to run and has an estimated sales value to Communisis of £4.5m per annum. We continue to rate the shares as a BUY.