Polemos reaches agreement to acquire SecurLinx

UK-based investment firm Polemos said on Friday that it had entered into an agreement with US cyber security group SecurLinx to acquire 100% of its issued share capital.

The deal would see Polemos advance SecurLinx $500,000, repayable in two tranches with the first payment being due on the day of signing and the second due 21 days later, in addition to the purchase of the group for £17.84m.

As per AIM rules regarding reverse takeovers, Polemos directors requested the firm's shares be immediately suspended from trading.

Hamish Harris, executive chairman at Polemos said, "After an exhaustive search and investigation of a number of opportunities, we are very pleased to have found an opportunity which combines low CapEx, a very fast growing market, an experienced management team and an impressive order pipeline."

SecurLinx provides access and control systems to the healthcare market and for its year ended 31 December 2016 reported a $553,756 loss.

As of 0850 BST Polemos shares were suspended at 0.0211p.