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K3 Capital Group PLC - Bolton, England-based professional advisory services firm - Will acquire Professional Insight Marketing Ltd, which trades as JE Consulting for up to £4.6 million in cash and shares.
JE Consulting is a marketing agency which provides digital and creative services to small businesses operating in accountancy, legal and healthcare markets.
K3 Capital will pay an initial consideration of £2.3 million, comprising £1.8 million in cash, draw down of its existing facilities and the issue of 177,430 shares at a price of 313p each.
Meanwhile, the earnout payment of up to £2.3 million and the issue of 120,000 shares is payable over four years and is subject to certain performance milestones.
‘I am delighted to announce the acquisition of this highly trusted and established business that will accelerate our strategy of enhancing our solutions for accountancy firms and their clients,’ said Chief Executive Officer John Rigby.
‘This acquisition strengthens our presence when the professional services sector is expanding, especially in the accountancy space, and increases our recurring revenue,’ Rigby added.
Current stock price: 305.00 pence, up 5.2% on Tuesday
12-month change: up 14%
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