appScatter wraps up Priori acquisition
AppScatter Group
17.25p
13:58 18/10/19
AIM-listed software as a service provider appScatter completed its acquisition of German mobile app intelligence provider Priori Data.
FTSE AIM All-Share
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16:59 23/04/24
appScatter acquired 100% of Priori for a total consideration of £13.5m, of which approximately £1.8m was immediately paid in cash and £11.7m was satisfied by the issue of 16.6m new ordinary shares in the company at an effective issue price of 70p each.
Application for the shares to be listed for trading on AIM had been made, with the firm expecting listing to take place on 6 July.
appScatter noted that the issue of a further 376,832 consideration shares, representing roughly €300,000 in issue value, would be deferred until the determination of the completion accounts and Priori's net assets statement.
Chief executive officer, Philip Marcella, said, "I strongly believe that the combination of the appScatter platform and the data held by Priori will significantly advance the Company's development and positioning."
"We are already collaborating with Priori on several new high profile clients - with growing interest in the abilities of the enlarged group from key potential enterprise customers," added Marcella.
As of 1055 BST, appScatter shares had picked 1.82% to 56p.