23rd Jul 2014 14:02
LONDON (Alliance News) - Tekcapital PLC said Wednesday that it has acquired InventionEvaluator.com and its related intellectual property assets from Keon Research LLC and Ion Corp Pty Ltd.
It expects the acquisition to add to earnings in its first full-year, and add forward revenue and profit in the near term.
Tekcapital will fund the acquisition through the issue of 879,770 shares that will be subject to lock-up restrictions for 12 months following completion, it said.
Following the completion, it will hold the assets under its US subsidiary Tekcapital LLC.
The company said that the acquisition would add a new product that would be a useful follow-on service to its existing service offering that will also be sold as a stand alone product.
"We are very pleased to announce the acquisition of InventionEvaluator.com and believe that this unique service will be of benefit to current and future clients seeking to understand the marketplace value of new technology acquisitions," said Executive Chairman Clifford Gross in a statement.
Shares in Tekcapital last traded at 21.22 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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