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Kin & Carta PLC - London-based business consultancy - Acquires data service provider Forecast Data for up to £13.1 million. Says it will pay an initial consideration of £3 million. Additionally, Kin & Carta will pay an earn-out vesting over 29 months based on earnings growth for Forecast Data through to September 30, 2024. Up to 75% of the earn out payable in Kin & Carta shares. The total purchase price is capped at £13.1 million. Forecast Data is being bought from Founder Neil MacDonald, Jennifer MacDonald, and a small group of senior managers, who will continue to work for the company. Kin & Carta says the acquisition, which will consist of Forecast Data Services Ltd and Forecast Poland, will be accretive to adjusted earnings per share in the first full year of ownership. Chief Executive Officer Kelly Manthey says: ‘This acquisition strengthens our data and artificial intelligence capabilities globally helping to satisfy our order backlog and establishing a data hub for Europe that matches our strong capabilities in America.’ Current stock price: 83.00 pence 12-month change: down 61% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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