13th Feb 2015 08:57
LONDON (Alliance News) - Instem PLC said Friday that it has paid the full performance based earn-out of GBP300,000 for its acquisition of Perceptive Instruments Ltd.
Instem agreed to buy the Suffolk-based in-vitro study data collection and management software company in November 2013 for a maximum of GBP1.3 million, including the earn out.
"The acquisition of Perceptive has been a success, not only in terms of the financial contribution the acquisition has made to date, but also in terms of expanding the company's offering into the in vitro data collection and study management in the genetic toxicology, microbiology and immunology markets," said Chief Executive Officer Phil Reason in a statement. "We are looking forward to another strong contribution from this area in 2015 and beyond."
Shares in Instem are untraded at 165.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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