- Business location intelligence company Ubisense Group said it had agreed to sell its RTLS SmartSpace unit to a company associated with Investcorp Bank for up to £35.0m.

Under terms of the deal, £30m would be paid in cash on completion.

Another £2m would be paid as a rollover investment into the sold business and an additional £3m earn-out would be tied to 2018 and 2019 revenue performance.

Following completion of the sale, Ubisense said it planned to return excess funds to shareholders, with further details of the amount and timing to be made in due course.

At 8:27am: [LON:UBI] Ubisense Group PLC share price was +8p at 68.5p

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