StockMarketWire.com - Vianet Group has acquired Vendman Systems, a mobile software provider for unattended retailing, for up to £4.25m.

Vianet said the target recorded revenues of £1.8m in the year through March, over 90% of which were recurring.

The initial cash consideration payable for Vendman is £2m, with an earn-out element based on the achievement of earnings targets in the first two years.

"This is positive news for both sets of customers as we continue to extend our capability, delivering increased value to the unattended retail sector, and in doing so accelerating our pan European growth plans," Vianet chief executive Stewart Darling said.




At 9:21am: [LON:VNET] Vianet PLC share price was +4p at 115.5p



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