3rd Jul 2018 11:04
LONDON (Alliance News) - appScatter Group PLC said Tuesday it has completed the acquisition of app intelligence firm Priori Data GmbH for GBP13.5 million in a mixed cash and share deal.
The company, whose software allows users to distribute and manage their apps on multiple app stores, issued 16.7 million shares at 70 pence each to Priori Data to satisfy GBP11.7 million of the deal. A further GBP1.8 million is to be paid in cash.
appScatter also issued 2.3 million shares in a fundraise at the same price to raise GBP1.6 million for the cash part of the deal.
Shares in appScatter Group were up 1.8% at 56.00 pence on Tuesday.
In early April, appScatter agreed to buy Priori for GBP9.5 million in cash and GBP4.1 million in shares at 70.00 pence each. Last week, it revised the terms to those announced Tuesday.
appScatter Chief Executive Philip Marcella said: "I am delighted to have reached revised terms for the acquisition by appScatter of Priori. I strongly believe the combination of the appScatter platform and the data held by Priori will significantly advance the company's development and positioning.
"We are already collaborating with Priori on several new high profile clients - with growing interest in the abilities of the enlarged group from key potential enterprise customers."
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