StockMarketWire.com - Technology services group Panoply Holdings said it had acquired public and and health sector focused FutureGov for an initial payment of £11.8m.

Panoply had also agreed to repay loan notes issued by FutureGov with a principal amount totalling £500k.

The £11.8m initial payment would be met with around in £6m cash and the rest with Panoply shares.

'The acquisition transforms the shape of Panoply, with around 45% of group revenue, on a proforma basis, originating from the health and public sectors following completion,' the company said.




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