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  • BY: Andrew Hore |
  • POSTED: 08/10/2008 |

A subsidiary of ADDleisure is acquiring health club management software provider ClubRunner.

ADDleisure owned 50.2% of intelligent booking software supplier Digital Plantation, which is paying £500,000 in cash plus shares equivalent to 24.9% of its enlarged share capital. There could be additional performace-related payments of up to £916,000.

ClubRunner generated revenues of £1.4m and a loss of £3,000 in the year to April 2008. Customers include Ramada Jarvis and PlayGolf.

There should be a good fit between the two businesses and they will be better placed to win larger clients. It will also boost the group’s recurring revenues.

It appears that ADDleisure’s stake in Digital will be diluted to just below 38%, Even so, Digital’s figures will still be consolidated in ADDleisure’s accounts.

At 2.625p a share, ADDleisure is valued at £5.5m.

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