3rd Nov 2021 19:31
Tracsis PLC - Leeds-based traffic data & transportation services firm - Says it has completed acquisition of geoscience company Icon Group Ltd. The acquisition comprises an initial cash payment of GBP1.9 million. An additional payment of GBP1.7 million will be made on a euro for euro basis to reflect the net current asset position of the business at completion and will be finalised in due course, it says.
Chief Executive Officer Chris Barnes says: "We are delighted to have completed this transaction which extends the group's existing capabilities in Data Analytics and GIS into Earth Observation and strengthens our ability to deliver leading edge projects to clients in Ireland, the UK and across the European Union. This is an important milestone in our strategy of growing our 'big data' service offering across a range of regulated industries including transportation. We welcome the Icon Group team to Tracsis and look forward to future successes together."
Current stock price: 916.30 pence
Year-to-date change: up 43%
By Arvind Bhunjun; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Tracsis