15th Mar 2016 09:26
LONDON (Alliance News) - Concha PLC shares rose on Tuesday after the company invested GBP4.0 million to take a small stake in British-based global technology company Ve Interactive Ltd.
Concha shares were trading up 11% to 0.995 pence per share on Tuesday morning.
Concha said it paid GBP250 for each share acquired in Ve Interactive, giving it a 0.43% stake following the deal.
Ve Interactive offers a suite of apps across a single platform which drives website traffic and improves the length of online customer journeys through display advertising, targeted overlays and email.
The company has 33 offices worldwide, serves over 10,000 clients around the globe and tracks more than GBP100.0 million worth of transactions each minute, according to Concha.
In 2014, Ve Interactive made a GBP2.9 million loss on the back of GBP19.7 million in revenue.
Concha described Ve Interactive as "one of Europe's fastest growing tech companies" and highlighted a series of awards given to the company since it was launched in 2009, including the company's inclusion as one of Europe's "unicorns" by the Financial Times in June 2015.
A unicorn is a privately owned company estimated to be valued in excess of USD1.00 billion.
By Joshua Warner; [email protected]; @JoshAlliance
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