Redington to acquire Turkey based Linkplus

Entered into agreement to acquire 70%; rest will be acquired in three years

Redington (India) Ltd, through its step down subsidiary Redington Gulf FZE, is planning to acquire Turkey-based Oracle distributor Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S over a period of time.

The company has entered into definitive agreement to acquire 70% of Linkplus, subject to regulatory approvals of authorities of turkey, and the rest over a period of three years.

The company today informed the exchanges that Redington Gulf FZE has entered into a definitive agreement to acquire 70% of Linkplus and the proposed acquisition is subject to regulatory approvals of authorities in Turkey.

The size of acquisition was not disclosed. The company has been valued around 6X future earnings, it said. Established in 1995, Linkplus is a leading Oracle distributor in Turkey. The balance 30% will be acquired over a 3 year period.