Audioboom completes last exercise to buy neuro-linguistics firm

Spoken word audio platform provider Audioboom has completed the exercise of the ‘squeeze-out’ rights available to it in order to buy SONAR News, a neuro-linguistic programming and artificial intelligence company, for £1.42m.

The acquisition was satisfied with issue of in total 56.93m shares at 2.5p each.

On Monday, the company said that the remaining 1.94m consideration shares will be issued to SONR and are expected to be admitted to trade on AIM on 13 April.

Following admission, Audioboom’s issued share capital will comprise 918.49m shares.

Shares in Audioboom were down 1.89% to 2.33p at 0936 BST.