MANCHESTER, England, July 6, 2010 /PRNewswire/ -- eXpansys plc (the Company), the online consumer electronics retailer, announces the proposed acquisitions of DSNS and PJ Media. The Company has also undertaken a major restructuring of its affairs and board composition and now intends to build a global online technology superstore.

Highlights:

- Acquisition of DSNS and PJ Media, two businesses controlled by Peter Jones CBE, the enterprise entrepreneur and eXpansys's major shareholder - Total transaction value of GBP49 million - Placing of further new shares with UK institutions, at 5.6p per share, to raise GBP30m - Bob Wigley, chairman of Yell plc and formerly Chairman of Merrill Lynch EMEA, will join the board as non-executive Chairman - Peter Jones CBE will join the Board as non-executive Deputy Chairman

As a result of the placing, Peter Jones' stake in the Company will reduce to 43% (formerly 75%) creating a sensible free float whilst maintaining a material interest in the business. The transaction qualifies as a reverse takeover of eXpansys and will be subject to the approval of shareholders at an EGM on 23 July.

Data Select Network Solutions Limited (DSNS) is a privately owned profitable business with relationships with a large number of the UK's major mobile telecommunication network operators and MVNOs, and focuses on the sale and distribution of SIM cards and retail solutions. PJ Media is another privately owned profitable business with the principal activities of web design, implementation and online marketing services to enterprises seeking to enhance their web-based offerings. Following the Acquisitions, the directors intend to capitalise upon the prospective opportunities available to the enlarged group and aim to develop eXpansys as a leading global online consumer technology retailer.

eXpansys Chief Executive Anthony Catterson, said: This is a transformational moment for eXpansys. I am delighted that we have been able to attract such high calibre individuals onto the board, and have also received the support of blue-chip institutions who have joined the share register. This deal opens up a number of significant strategic opportunities for the Company that we fully intend to exploit.

Bob Wigley, Chairman, said: eXpansys represents a high growth opportunity built on a world class technology platform. eXpansys has the potential to be an international market leader. Anthony is putting together an excellent management team and, with the injection of DSNS and PJ Media, a coherent strategy for today's fast growing online market.

Peter Jones, Deputy Chairman, said: I invested in the Company last year because I saw its potential. This deal is a major step in unlocking that potential. We expect to create over time a real powerhouse, both in terms of its investment potential and its ability to serve consumer technology products to customers right around the world.

For further information:

Nick Miles/Ben Simons - M: Communications - +44(0)207-920-2330

SOURCE: eXpansys

CONTACT: For further information or to obtain full press release contact:Nick Miles/Ben Simons - M: Communications - +44(0)207-920-2330