StockMarketWire.com - Draper Esprit, a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses, has announced the appointment of a new chief financial officer and the sale of portfolio company Qosmos to ENEA.
The company has appointed Benjamin Wilkinson as CFO. Wilkinson is a senior finance executive and chartered accountant with extensive international experience in financial management, corporate finance and investment banking and most recently was the CFO at AIM-listed President Energy.
Chief executive Simon Cook said: "Ben has extensive public company experience and a track record of delivering on strategic financial benchmarks. The recent IPO was transformational for Draper Esprit and we are confident that Ben's addition to the senior management team will help us continue to drive growth. We are excited to have him on board and look forward to introducing him to our investors."
The Company also today announces that ENEA, a leading global information technology company that provides real-time operating systems and consulting services, has signed an agreement to acquire portfolio company, Qosmos for a total cash consideration of approximately €52.7 million.
Qosmos is a supplier of Network Intelligence software based on Deep Packet Inspection and commands a dominating share of its market. Closing of the transaction is subject to approvals from French government authorities and is expected to be completed beginning December 2016. The disclosed audited NAV of Draper Esprit's holding in Qosmos as at 30 April 2016 was £4.9 million (which reflects the valuation as at 31 December 2015 adjusted for Forex as set out in the admission document).
The amount received by Draper Esprit on completion of sale will be approximately £6 million with a further €1.9m expected in 24 months' time and consequently this will have a positive impact on the company's overall net asset value.
At 8:15am: [LON:GROW] Draper Esprit Plc share price was 0p at 335p
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