StockMarketWire.com - Rosslyn Data Technologies has conditionally agreed to acquire Integritie (UK) Ltd for a total initial consideration of £2.588m, and has conditionally raised a total of £2.29m gross via a placing of up to 50.96m new shares at 4.5p each.

In addition, the company had conditionally raised £2.21m gross via a placing of up to 49.05m new shares at 4.5p each. It also announced an open offer to raise up to about £0.5m.

The net proceeds of the firm placing and open offer would be used to part fund the acquisition of Integritie, while the net proceeds of the VCT/EIS placing would go towards general working purposes.

"Integritie is a strategically important acquisition for us giving us the ability to analyse unstructured as well as structured data," said CEO Roger Bullen.

"Integritie's customer base is complementary to our own and the acquisition will enable us to cross sell both structured and unstructured data services to an enlarged customer base."

Bullen said that, in due course, the acquisition should enable Rosslyn to extract significant synergies not only through cross selling but also operational efficiencies and cost savings as a result of the increased scale.






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