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Access Intelligence agrees sale of AITR

04 July 2016 07:21

Access Intelligence has agreed terms to dispose of 100% of its subsidiary AITrackRecord Limited to TrackRecord Holdings, a newly formed company founded by David McNair Scott, current CEO of TrackRecord. AITrackRecord provides a powerful complete solution for training, competence and compliance management, designed specifically for the highly regulated UK financial services industry. Access Intelligence has entered into an agreement with TrackRecord whereby Access Intelligence will receive 20% of the share capital of TrackRecord and a deferred cash payment of approximately £100,000, payable when a similar amount is received by AITR from HMRC as a R&D tax credit for AITR's business in the pre-acquisition period.

Joanna Arnold will also be joining the board of TrackRecord as a mon-executive director and the group's representative.

Story provided by StockMarketWire.com

Related Company: ACC

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