18 November 2010 – acquisition
Technology group K3 has paid £1.7m to acquire Panacea Ltd, a managed services and IT solutiuons provider. The purchase will more than double the group’s existing managed services revenues as well as extending the range of the offering. There will also be opportunities to cross sell going forward and this is therefore a useful purchase. With earnings per share in the year to next June forecast to be around 22.4p, the shares remain CHEAP.