BOS Global completes purchase of stake in Call Design

Analytical software development company BOS Global Holdings announced on Tuesday that settlement had occurred to complete the acquisition of a 40% equity interest investment in Call Design.

The AIM-traded firm said that, under the terms of the agreement, cash consideration of £0.28m had been disbursed on Tuesday to the owners of Call Design, along with the allotment of 5,040,000 fully paid ordinary shares in BOS Global.

Application would be made to the AIM market of the London Stock Exchange to admit those shares to trading, with admission expected on 26 May.

The shares would be subject to a 12-month lock-in agreement, starting from Tuesday.

Additionally, the managing Director of BOS Global - Michael Travia - had joined the board of Call Design in the role of non-executive chairman.

BOS Global also had the first right of offer and refusal to acquire the 60% balance of Call Design at the same proportional rate of cash and shares as applied to the initial 40% Investment

“Settlement of the acquisition of a 40% equity interest in Call Design represents another major milestone delivered on time,” Travia commented.

“I wish to thank the teams at Call Design and BOS Global who, having already last month kick-started Call Design as a platinum reseller of BOS Meet and BOS Automate worldwide, are working hard together on the implementation of BOS Time and BOS360 platform-as-a-service from next week.

“I look forward to working with both teams to deliver the sales returns expected from this investment.”