9th Jul 2021 11:58
HeiQ PLC - London-based textiles technology firm - Completes purchase of materials technology firm Life Material Technologies Ltd for an upfront consideration of USD6.5 million. As part of the deal, HeiQ issues 1.9 million shares to sellers of Life at GBP1.50 each, totalling GBP2.8 million.
"The acquisition strengthens HeiQ's presence in the bio-based antimicrobial and textile odor control market and further diversifies and innovates its product range and capabilities," HeiQ comments.
LIFE uses antimicrobial technologies in its materials products to prevent bacteria, fungi and other micro-organisms. It has operations in Hong Kong, Thailand and Brazil and last year posted revenue of USD3.6 million.
Current stock price: 139.60 pence, up 3.0% Friday
Year-to-date change: down 23%
By Will Paige; [email protected]
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