StockMarketWire.com - Begbies Traynor Group acquired BSMH, which traded as Barker Storey Matthews for a total up to £3m in a cash and shares deal.

BSM, one of the largest independent firms of chartered surveyors in Eastern England, offered a range of core services, including commercial property agency, property management, building consultancy, professional services (including valuations) and planning services, all of which were consistent with those offered by the existing Eddisons business.

'The acquisition is in line with our strategy to develop our property services business through selective acquisitions to enhance our expertise and geographical coverage,' the company said.

Under the terms of the deal, Begbies agreed to pay an initial £1.6m and an additional contingent consideration of up to £1.4m would become payable if BSM achieved financial targets in the three year period directly following completion.



At 8:49am: [LON:BEG] Begbies Traynor Group PLC share price was +0.25p at 62.75p



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