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Annual Report > Report of the directors > Financial review > Acquisitions

ACQUISITIONS


The total amount invested in acquisitions in the 2007 financial year, net of cash acquired, was £268 million, relating primarily to the acquisitions of INS and PlusNet. Goodwill arising on acquisitions made in the year was £282 million.

     The acquisition of INS completed in February 2007, for a total consideration of £133 million. Net of deferred consideration and cash acquired, the net cash outflow was £129 million. The provisional fair value of INS’s net assets at the date of acquisition was £12 million, giving rise to goodwill of £121 million.
     The acquisition of PlusNet completed in January 2007, for a total consideration of £66 million. Net of consideration outstanding at 31 March 2007 and cash acquired, the net cash outflow was £59 million. The provisional fair value of PlusNet’s net assets at the date of acquisition was £9 million, giving rise to goodwill of £57 million.
     Other acquisitions made in the year included primarily dabs.com, Counterpane LLC and I3IT Limited. The total consideration in respect of these acquisitions was £144 million, and goodwill of £104 million has been recognised.
     The total amount invested in the 2006 financial year was £165 million mainly due to the acquisitions of Radianz and Atlanet, which was £286 million lower than the £453 million invested in the 2005 financial year, which was mainly due to the acquisitions of Infonet and Albacom.
 

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