StockMarketWire.com - Cloud and IT managed services group IDE said it had confirmed the sale of IDE Connect and Nimoveri to CloudCoCo for a deferred consideration of £250,000.

The sale comes after an announcement on 28 September 2021, that the company was in advanced discussions to sell its wholly owned subsidiary IDE Group Connect.

'The consideration terms reflect the current financial state of the IDE group Connect business, the limited-scope warranties offered by IDE and the small number of unprofitable contracts contained within the business,' it added.






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