News blog
eg solutions
- BY: Andrew Hore |
- POSTED: 11/03/2010 |
Operations management software supplier eg solutions is acquiring XTAQ for up to £233,000.
Bristol-based XTAQ has developed business performance measurement software called Nuqleus. It brings with it a number of clients including Barclaycard, Citibank and GE Capital. XTAQ could sell Nuqleus to eg’s customers. The combined customer base is 40. The deal also means that eg will not have to spend money and time to develop its own version of Nuqleus.
XTAQ lost £150,000 on revenues of £550,000 in the year to March 2009.
The purchase price equates to contracted maintenance revenues for the year to March 2011. Up to £150,000 of the payment is in convertible unsecured loan notes convertible at 82.5p a share.
At 55.5p a share, eg solutions is valued at £7.93m.
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