- Technology and software investment company KRM22 said Tuesday it had acquired a 60% stake in Irisium for a total sum of up £2.3m.

Irisium would bring to KRM22 a contracted recurring revenue base of £1.0m, the company said.

Irisium provides a market surveillance system to make trade surveillance efficient and straightforward.

Under the terms of the transaction, the maximum total consideration for the investment was £2.3m. An initial payment of £1.7m was made to Irisium's parent company, Cinnober Financial Techonology, for a 60% share of Irisium.

The remaining consideration of up to a maximum of £0.6m would be paid should Irisium achieved £2.0m of annualised recurring revenue as at 30 June 2019, KRM22 said.

At 10:19am: [LON:KRM] Krm22 Plc Ord 10p share price was +0.5p at 143p

Story provided by