7th Oct 2014 08:44
LONDON (Alliance News) - Energy Assets Group PLC Tuesday said it has acquired Origin Technical Business Services Ltd, a mobile works management systems provider which counts Energy Assets among its customers.
Energy Assets will pay GBP850,000 for the company, including a GBP400,000 initial payment, a deferred consideration of GBP250,000 and GBP200,000 for the completion of the cash balance.
The deal will be funded from Energy Assets' existing cash resources.
"The software services that Origin provides are key components of our bespoke management systems and the acquisition will enable Energy Assets to further improve the service offering provided to our customers through differentiated technology," said Phil Bellamy-Lee, chief executive of Energy Assets.
Energy Assets shares were up 1.0% on Tuesday to 402.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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