6th May 2015 07:47
LONDON (Alliance News) - Servelec Group PLC said Wednesday it has acquired healthcare sector software peer Aura Ltd, paying an initial GBP900,000 in cash for Aura's debts and GBP1 for its entire issued share capital.
Aura's debts are GBP1.1 million. Servelec will pay a further GBP350,00 through the issue of shares over a three-year period subject to some performance conditions.
Aura posted a pretax loss of GBP1.5 million for the year to end-March, on revenue of GBP1.1 million. Aura's directors have reduced the company's cost base to less than GBP1.0 million as at April 2015, Servelec said.
The acquisition is expected to be earnings neutral in 2015 and enhancing thereafter.
Shares in Servelec are untraded Wednesday morning. It last closed at 278.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Servelec Group