- Cloud company ImImobile said it had completed the acquisition of 3CInteractive Corp for a total of $53.2m.

'We are pleased to complete the Acquisition which brings complementary product capabilities and a blue-chip customer base with significant opportunities to cross and upsell IMImobile's enterprise CPaaS product set,' ImImobile said.

The company said that $10m of the total consideration of $53.2m would be deferred for up to two years. Shareholders who were unable to demonstrate accredited investor status would receive a deferred cash payment rather than shares.

Upon completion of the merger, expected to complete within two business days, 3C would become a wholly-owned subsidiary of ImImobile.

At 8:41am: [LON:IMI] IMI PLC share price was -7p at 952p

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