Alphyra propose disposal of computers and telecoms business

Alphyra has announced that it has entered into a conditional agreement to sell the businesses of its voice and data group, with the exception of the payphones business, for a total consideration of €12m.

This is payable as an initial cash consideration of €8m, payable on completion, with the balance being satisfied by the issue of €4m in loan notes.

The business are to be sold to Calyx and Calyx Computers Ltd, companies owned by Maurice Healy.

John Nagle, CEO, said that the proposal allowed the company to focus its resources on the Electronic Transaction Group where its future lay.

Alphyra also announced results for the half year ended October 31, 2001.

For the six months the group made a net loss of €100,000, in the same six months in 2000 it made a profit of €2.2m.

Turnover in the Electronic Transaction Group rose to €17.1m, an increase of 151%.

Turnover in the Voice and Data Group fell to €22m, a drop of 35%.

During the six months the secured four new contracts for its prepaid cellular solutions with BTCellnet and Orange in the UK, Meteor in Ireland and France Telecom giant SFR.

In the UK it completed the €9.5m acquisition of De La Rue transaction Services