1st Apr 2015 08:16
LONDON (Alliance News) - Mercia Technologies PLC Wednesday said it has invested a further GBP3.5 million in e-procurement platform Science Warehouse Ltd, taking its stake in the business to 63% from 45%.
Mercia said this latest round of funding will allow Science Warehouse, a spin-out from the Universty of Leeds which already has a profitable business model with 90% recurring revenues, to "further increase its growth trajectory and international expansion".
Mercia Technologies shares were up 1.3% at 60.78 pence Wednesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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