- Communications provider Gamma Communications said it had acquired Exactive for up to £7.5m in a shares-only deal.

Exactive, unified communications specialist, was one of a small number of Microsoft Teams Voice Partners operating in the UK. It had clients in the UK across both public and enterprise sectors.

'Exactive helps us address a part of the market that is already embedded in a Microsoft ecosystem and this will be an essential part of our UCaaS strategy in the years ahead,' the company said.

Under the terms of the deal, Gamma would pay £4.5m on completion of the deal and with a deferred contingent consideration of up to an additional £3.0m. The payment of the full contingent consideration would require Exactive to achieve EBITDA of £1.5m in 2021, the company said.

At 8:49am: [LON:GAMA] Gamma Communications PLC share price was +50p at 1260p

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