SKILLED Group will be acquired by Programmed Maintenance Services via a Scheme of Arrangement. Under the terms of the agreement, SKILLED shareholders will receive 0.55 Programmed shares plus $0.25 cash for each SKILLED share held. This implies a value of $1.79 per SKILLED share, representing a 45.5% premium over SKILLED's previous closing share price. The transaction is expected to generate synergies of over $20 million in the first year and over $35 million within three years. The combined entity is anticipated to have double digit earnings per share accretion in the next two fiscal years.