Elecosoft acquires Integrated Computing & Office Networking Ltd
Elecosoft has acquired Integrated Computing & Office Networking Ltd (ICON) for a total of £2.4m.
Construction & Materials
12,116.70
16:49 20/09/24
-0.11%
-13.85
Elecosoft Public Limited Company
133.00p
16:55 20/09/24
0.00%
0.00p
FTSE AIM All-Share
745.62
17:04 20/09/24
n/a
n/a
Directors expected the deal would be earnings-neutral in the period ended 31 December 2016, and earnings enhancing thereafter.
It would be financed by a fixed-term loan of £1.8m, amortised over four years at an interest rate of 2.75% above Barclays' base rate, and by the issue of 2.22m shares at 27p each.
ICON is a software-as-a-service provider of building information and related data management and storage systems, principally to the UK retail sector.