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Press Centre

Acquisition of Inforenz Limited & Statement regarding possible acquisition

31 July 2006
Acquisition of Inforenz Limited
Detica Group plc ("Detica") announces that on 19 July 2006 it completed the acquisition of Inforenz Limited ("Inforenz"). Inforenz provides a specialised range of computer forensic services and products to the commercial and law-enforcement markets. The initial consideration paid was £1.0 million in cash, with up to a further £1.0 million in cash depending upon the performance of Inforenz in the period to 31 October 2007. Inforenz was privately owned and in its audited accounts for the year ended 31 October 2005, reported revenues of £0.8 million and profits before tax of £0.2 million. The acquisition is expected to be modestly earnings enhancing in year one.
Commenting on the acquisition of Inforenz, Tom Black, Chief Executive of Detica said;
"We are extremely pleased with this transaction, which strengthens significantly our portfolio of investigatory services and products for commercial and law enforcement clients. Inforenz has been a very successful business in recent years and we believe that combining our resources will enable us to build further on that success."
Statement regarding possible acquisition
Detica also announces today that it has reached an advanced stage of discussions with the Board of an unlisted, UK-based consultancy business, on the terms of a transaction whereby Detica would acquire the entire issued share capital of that business.
The acquisition consideration, in the region of £30 million to £35 million including earn out, would be satisfied by a mixture of new Detica shares to be issued to the vendors and cash from Detica's existing cash resources and borrowing facilities. It is expected that the transaction would not require Detica shareholder approval under the United Kingdom Listing Authority's Listing Rules. A further announcement will be made in due course.

Contact Details

Edward Bridges or Matt Dixon
Financial Dynamics
Tel: 0207 831 3113