Avisen is paying £200,000 in shares for South Africa-based Quadrum Consulting, which enhances Avisen’s position in the IBM Cognos software market.
The shares are being issued at 14.5p each. The market price rose 0.5p to 15p a share, which values the business intelligence consultancy at £17.1m.
Quadrum made a profit of £98,000 on revenues of £312,000 in the year to February 2009.
Avisen will have a strong position in the IBM Cognos reseller and consultancy market in both the UK and South Africa.
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