16th May 2016 07:43
LONDON (Alliance News) - IT services company Microgen PLC on Monday said it has agreed to acquire Infoscreen (Cyprus) Ltd for EUR1.8 million in cash.
Infoscreen is a financial services software company based in Cyprus and with offices in Hong Kong and Belgrade. Its software is used by trust and fund administration services providers.
For 2015, Infoscreen made EUR1.0 million in revenue and an operating profit of EUR100,000.
Microgen said the deal will boost its financial services business and it continues to see further opportunities for bolt-on deals in the sector.
Shares in Microgen were untraded on Monday morning, having last traded at 149.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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