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Microlise Group PLC - Nottingham, England-based provider of software-as-a-service transport technology solutions to fleet operators - Purchases entire issued share capital of Altrincham, England-based Enterprise Software Systems or ESS for initial consideration of £7.7 million in cash, with deferred consideration of £850,000 payable in six months’ time. This will be funded by Microlise’s cash reserves. UK Competition & Markets Authority has confirmed that it requires no further information at this stage. Company says ESS delivered approximately £5.1 million in revenue for the year ended August 31, around 75% of which is recurring based on long-term contracts. Microlise plans to release a trading update for 2023 on January 30.
Current stock price: 103.17 pence
12-month change: down 28%
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