26th Mar 2015 11:37
LONDON (Alliance News) - Volvere PLC on Thursday said it has struck a deal to buy Impetus Automotive Ltd for GBP1.3 million in cash.
Volvere, a turnaround investment company, said it would pay the GBP1.3 million from its existing cash resources. Impetus provides consulting services to the automotive sector.
"We are pleased to acquire IAL, a consulting business with a long history and track record of success. The global automotive market faces continual challenges, and IAL's deep industry insight puts it at the forefront of being able to offer clients value-enhancing solutions," said Volvere Chief Executive Jonathan Lander.
Shares in Volvere were up 3.3% to 315.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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