- Financial risk management software company KRM22 entered into an agreement to acquire Object+ for up to $3.9m.

The acquisition of Object+'s technology products would expand KRM22's market risk solutions to pre-trade and at-trade with direct connectivity to major global exchanges, the company said.

The initial consideration for the acquisition was $1.15m with $0.5m payable in cash and $0.65m through the issue of 606,909 new ordinary shares of 10 pence each in KRM22 at the price of 85p.

The deferred consideration was set a ceiling of $2.75m payable in three tranches and would be subject to earn-out conditions based on the growth of annual recurring revenue of Object+'s products and services, the company said.

At 10:06am: [LON:KRM] Krm22 Plc Ord 10p share price was -3.5p at 71.5p

Story provided by