BT 2009 Annual Report Download - page 120

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ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS BUSINESS AND FINANCIAL REVIEWS OVERVIEW
FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS – NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
118 BT GROUP PLC ANNUAL REPORT & FORM 20-F
28. Acquisitions
BT Global Services BT Retail Other Total
Year ended 31 March 2009 £m £m £m £m
Fair value of consideration 13 98 75 186
Less: fair value of net assets acquired 3 24 28 55
Goodwill arising 10 74 47 131
Consideration:
Cash 13 98 65 176
Deferred consideration – – 10 10
Total 13 98 75 186
The outflow of cash and cash equivalents is as follows:
Cash consideration 13 98 65 176
Less: cash acquired 1359
12 95 60 167
BT Global Services
Comsat
International Other BT Retail Total
Year ended 31 March 2008 £m £m £m £m
Fair value of consideration 130 276 71 477
Less: fair value of net assets acquired 57 82 24 163
Goodwill arising 73 194 47 314
Consideration:
Cash 125 204 63 392
Deferred consideration 5 50 8 63
Equity shares issued –22 –22
Total 130 276 71 477
The outflow of cash and cash equivalents is as follows:
Cash consideration 125 204 63 392
Less: cash acquired 317 323
122 187 60 369
Year ended 31 March 2009
BT Global Services
On 31 July 2008 the group acquired 100% of Stemmer GmbH and SND GmbH which now form part of BT Global Services. The purchase
consideration was £13m. The net assets acquired and the goodwill arising was as follows:
Fair value
Book value adjustments Fair value
£m £m £m
Receivables 6–6
Cash and cash equivalents 1–1
Payables (4) – (4)
Net assets acquired 3–3
Goodwill 10
Total consideration 13
The fair value adjustments relating to this acquisition were provisional at 31 March 2009 and will be finalised during the 2010 financial
year. The goodwill comprises principally the assembled workforce and forecast synergies.
From the date of acquisition, these acquisitions have contributed revenue of £26m and a net profit of £1m to the group’s results. If the
acquisitions had occurred on 1 April 2008, the group’s revenue would have been higher by £10m and profit for the year would have been
lower by £1m.
FINANCIAL STATEMENTS