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26 July, 2006 - 06:44 By Staff Reporter

Redstone completes acquisition

Redstone, the Cambridge provider of communications and IT solutions, has completed the acquisition of the Tolerant Group of Companies – Tolerant Systems Ltd, Net-Adept Limited, Net Quest Solutions Limited and Trent Datacomms Limited – some of the UK’s leading providers of Network Security Solutions. Redstone, the Cambridge provider of communications and IT solutions, has completed the acquisition of the Tolerant Group of Companies – Tolerant Systems Ltd, Net-Adept Limited, Net Quest Solutions Limited and Trent Datacomms Limited – some of the UK’s leading providers of Network Security Solutions.

Tolerant is a network management, monitoring, analysis and security provider and has the exclusive rights to sell computer associates’ anti-virus and anti-spyware products to larger businesses in the UK.

As such, it enables Red-stone to offer an additional range of highly valued services to its customers in partnership with one of the world’s largest IT management software providers.

The Tolerant group will be integrated into Redstone Managed Solutions, an operating division of Redstone plc and will greatly enhance this division’s market proposition.

Tolerant is based in Stoke on Trent and has 36 employees. For the 12 months to May 2006, it achieved aggregate revenues of £5.5m and adjusted EBITDA of £0.7m.

Total gross consideration amounts to £3.75m – £1.6m in cash, £0.8m of loan notes and the balance to be satisfied by the issue of 25 million new ordinary shares of 1p each.

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