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Mergers & acquisitions

Spiritel Gets Networks Direct

LONDON -- Spiritel plc (AIM: STP), the telecommunications services business, is pleased to announce the earnings-enhancing acquisition of the entire share capital of the privately held company Networks Direct (UK) Limited.

Networks Direct provides inbound and outbound voice, broadband, wholesale line rental and non-geographic numbers to more than 300 SMEs, many of which are professional services firms on long term contracts. In the year to 31 May 2006 Networks Direct had sales of #1.6 million and an operating profit, before management charges, of #488,000. Net assets as at 31 May 2006 amounted to approximately #202,000.

Spiritel plc

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