6th Jan 2015 14:00
6 January 2015
BELGRAVIUM TECHNOLOGIES PLC
(AIM: BVM)
Completion of Acquisition
Belgravium Technologies plc ("Belgravium" or the "Company"), the provider of software applications and solutions for the airline, rail, retail and logistics industries is pleased to announce that the acquisition of the entire issued share capital of Access Fire and Security Ltd ("AFS "), details of which were announced on 4 December 2014, was completed as planned on 31 December 2014. At completion, the AFS balance sheet included £203,000 of cash, £33,000 more than the amount contractually required. This will reduce the effective net cost of the AFS to Belgravium. The headline consideration for AFS is £500,000.
Commenting on the acquisition John Kembery, Chairman of Belgravium, said "this is a small but strategically important deal since it is both earning enhancing and another step forward in the development for Feedback Data, acquired in 2013."
Contacts: | |
Belgravium Technologies Plc | www.belgravium-ir.com |
John Kembery, Executive Chairman | +44 (0) 7770 731021 |
Mark Hardy, Group Managing Director | +44 (0) 1274 741860 |
WH Ireland Limited (Nominated Adviser and Broker) | www.wh-ireland.co.uk |
Mike Coe / Ed Allsopp | +44 (0) 117 945 3470 |
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