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Gresham Technologies Acquires Inforalgo Information Technology for GBP 3.6m
Friday 31 July 2020

UK software and services company Gresham Technologies plc (LSE: GHT) has completed the acquisition of the entire issued share capital of Inforalgo Information Technology Ltd. for a total consideration of up to GBP 3.6m (USD 4.72m), the company said.

The GBP 3.6m consideration is comprised of an initial consideration of GBP 2.3m (USD 3m) and deferred consideration of up to GBP 1.3m (USD 1.7m).

The initial consideration of GBP 2.3m is being satisfied in cash from Gresham's existing reserves, which includes full settlement of selling shareholder loans and trading balances.

The deferred consideration of up to GBP 1.3m will be paid in two sums with up to GBP 0.9 m payable on the 12-month anniversary of completion of the acquisition and up to GBP 0.4m payable on the 18-month anniversary of completion.

The acquisition adds cloud-based financial markets integration solutions to Gresham's portfolio of Clareti applications, thus increasing the Group's addressable market. The acquisition has a clear financial rationale and supports Gresham's strategic plan to create a global enterprise financial technology business.

Inforalgo Information Technology Ltd. is a specialist in connectivity and intelligent automation solutions for financial services institutions enabling straight through processing and real-time regulatory reporting.

Gresham Technologies specialises in providing real-time solutions for data integrity and control, banking integration, payments and cash management.
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Date Published: 31/07/2020

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