- TMT Investments, which invests in high-growth, internet-based companies across a variety of sectors, has announced that its portfolio company Kanvas Labs has been acquired by AOL, Inc.

The transaction represents an approximately $0.46m (or 134%) uplift in the fair value of TMT's investment in Kanvas, compared to the latest reported amount as of 31 December 2014.

Alexander Selegenev, executive director of TMT, commented: "The sale of Kanvas Labs is the second of our portfolio exits to a major international player, which underlines our ability to identify winning combinations of teams, products and technology in our investment selection process."

At 9:33am: [LON:TMT] TMT Investments share price was +0.01p at 1.74p

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