- Materials and textile company HeiQ said it had completed its previously announced acquisition of Life Material Technologies, a materials technology company that has developed a portfolio of smart ingredients.

'The acquisition strengthens HeiQ's presence in the bio-based antimicrobial and textile odor control market and further diversifies and innovates its product range and capabilities,' the company said.

As part of the deal, the company will issue 1,887,883 new ordinary shares to the sellers of Life Material Technologies, at a price of £1.496201 per share.

'HeiQ will initially focus on marketing HeiQ LIFE's bio-based, botanical antimicrobial technologies, which represent a sustainable solution for controlling odor on textiles, to apparel brands,' it added.

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