14th Jan 2019 11:04
LONDON (Alliance News) - Ideagen PLC on Monday said it has agreed to acquired software-as-a-service firm Scancell Solutions Ltd for a total cash price of GBP3.5 million.
Scannell, based in Ireland, has developed a functionally rich content enabled environmental health, safety and quality platform. The acquisition, expected to be earnings-enhancing from the first year of ownership, supports the company strategy in that arena, Ideagen explained.
Ideagen will pay GBP3.0 million on completion of the acquisition and a further GBP500,000 deferred for 12 months. The total price will be funded from the company's existing cash resources and debt facilities.
Ideagen shares were trading down 2.2% at 122.70 pence each.
Related Shares:
IDEA.L