Ingenta swings to H1 profit, inks acquisition deal and launches subscription

Ingenta has swung back to an interim profit, acquired all of the share capital in UK digital advertising company 5 Fifteen Ltd for up to £990,000, and also launched a £780,000 subscription.

The acquisition price included up to £490,000 up front, and a maximum of £500,000 as an earn-out based on revenue.

The subscription -- 600,000 shares at 130p each -- was to fund the additional working capital requirements linked to the deal, and for more working capital generally

Ingenta said it had received commitments for a direct subscription with certain institutional investors and directors of the company.

The acquisition was not conditional on the Subscription.

Meantime, Ingenta's first-half pre-tax profit was £368,000, from a year-ago loss of £1.15m. It posted revenues falling to £7.57m, from £7.59m.