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IN BRIEF: Microlise completes Enterprise Software Systems takeover

11th Jan 2024 12:03

Microlise Group PLC - Nottingham, England-based provider of software-as-a-service transport technology solutions to fleet operators - Purchases entire issued share capital of Altrincham, England-based Enterprise Software Systems or ESS for initial consideration of GBP7.7 million in cash, with deferred consideration of GBP850,000 payable in six months' time. This will be funded by Microlise's cash reserves. UK Competition & Markets Authority has confirmed that it requires no further information at this stage. Company says ESS delivered approximately GBP5.1 million in revenue for the year ended August 31, around 75% of which is recurring based on long-term contracts. Microlise plans to release a trading update for 2023 on January 30.

Current stock price: 103.17 pence

12-month change: down 28%

By Emma Curzon, Alliance News reporter

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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