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Knowledge Technology Solutions
- BY: Andrew Hore |
- POSTED: 07/08/2007 |
Financial information provider Knowledge Technology Solutions is paying up to £1.5m for software developer Arcontech.
Arcontech develops middleware for real time publishing and distribution of financial data. It generated pre-tax profits of £181,000 on turnover of £982,000 in the year to July 2006.
KTS is paying £700,000 in cash and issuing 45m shares for Arcontech. Additional consideration of up to £300,000 is payable if Arcontech’s turnover is between £1.2m and £2.2m in the 12 months following the acquisition. KTS needs to place shares to provide working capital.
Arcontech will move into KTS’s London offices and this will save money for the enlarged group. KTS is valued at less than £4m and needs to get larger to attract more attention this looks a good way of doing that. Arcontech should also help to reduce the group’s loss.
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