StockMarketWire.com - Product supplier to the broadcast and photographic markets Vitec Group said it had acquired noise reduction equipment manufacturer Rycote Microphone for up to £8.5m.

In the year through April, Roycote recorded £3.1m of revenue, with adjusted Ebitda of £0.8m.

The deal included an upfront payment of £6.0m with a further £2.5m payable dependent on post-acquisition performance.

The acquisition is expected to be marginally accretive to earnings in 2019.

On its outlook, Vitec said it expected to deliver a full year peformance slightly ahead of previous expectations, given further FX benefits and revised trading expectations.

At 8:36am: [LON:VTC] Vitec Group The PLC share price was +40p at 1355p



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