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Xaar PLC - Cambridge, England-based inkjet printing technology - Buys Megnajet Ltd and Technomation Ltd for £4.0 million in total, including £3.6 million initial cash and the rest in two years' time. The two companies trade together under the Megnajet name. They provide industrial ink management and supply systems for digital inkjet. Xaar will merge Megnajet and Technomation, and the combined business will trade under the Megnajet name, it says. The two firms generated a combined £700,000 in pretax profit in their financial years to January and February last year. Xaar expects the pair to contribute annualised revenue of £3 million and to be earnings accretive in calendar 2022. Xaar say the acquisitions will accelerate its growth by creating a more integrated inkjet solution for customers.
Current stock price: 201.75 pence, down 2.1% on Thursday
12-month change: up 39%
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