6pm complete acquisition of Compunet Group

6pm announced in its interim directors’ statement that as a result of the successful rights issue the company has now completed the acquisition of the Compunet Group. Compunet provide complimentary IT infrastructure capability to the group’s current software and services portfolio. The Compunet Group has an established Malta customer base and adds significant revenues to the 6pm Group. Together with Softweb Limited, which was acquired late in 2010, Compunet will expand 6pm’s customer base in Malta, thus providing even more upselling opportunities.

The group’s focus during the first four months of the year was the rights issue as well as the restructuring of the management team. The statement reported that this created inherent delays in operating results and consequently these are not expected to be in line with expectations at the half way mark.

The group is, however, now fully focused in delivering the strategic business plan prepared in December 2010 and over the last couple of weeks alone the group has confirmed contracts for two initial pieces of work in the UK health market.

The company anticipates that the benefits of its efforts in the first two quarters of 2011 will start to become more evident in late 2011 and early 2012.

6pm is an established IT Solutions Company specialising in information management, business intelligence and document management.

The company’s “can do” attitude and pragmatic approach enables them to engage with reputable, blue-chip organisations such as Capgemini, BT, the NHS and RICS amongst others. 6pm Holdings p.l.c floated on the Malta Stock Exchange in September 2007. Information about 6pm’s products and services can be found at www.6pmplc.com