Twenty completes £10.5m acquisition of Dataforce

LONDON - Investment group Twenty has completed its 拢10.5m reverse takeover of AIM-listed data firm Dataforce Holdings.

The acquisition is the first by Ofex listed Twenty and is part of its strategy of moving to AIM and focusing on the marketing services sector, in particular data, customer management and direct marketing.

Ian Lancaster, Twenty's chief executive, said that further acquisitions are likely.

He said: "We are delighted to be completing the first of our acquisitions as part of the group's stated desire to create a marketing services offering.

"We intend to drive the Dataforce business forward by adding our extensive experience to a strong business with an impressive client base. Further acquisitions will significantly enhance the business moving forwards."

Latest figures for the 10 months ending October 31 2005 show Dataforce had pre-tax profits of 拢912,569 on a turnover of 拢14.3m.

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