StockMarketWire.com - IP commercialisation company Allied Minds said its portfolio company, TableUp, had been acquired by TouchBistro.
Terms of the acquisition were not disclosed.
The acquisition was structured as a stock-for-stock transaction in which TouchBistro acquired 100% of the shares of TableUp in exchange for the issuance of TouchBistro common shares to the shareholders of TableUp, the company said.
A total of 2,542,662 common shares of TouchBistro would be paid to Allied Minds valued at $5.99m.
The deal represented an unrealized return of 1.27x on Allied Minds' invested capital; equivalent to an internal rate of return of 13.63% over two years to date, it added.
At 9:51am: [LON:ALM] Allied Minds PLC share price was +0.75p at 42.75p
Story provided by StockMarketWire.com
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