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Bids, Mergers and Takeovers

accesso acquires Ingresso Group

30 March 2017 08:55

accesso Technology Group has acquired Ingresso Group, a global distribution system for entertainment ticketing for an initial cash consideration of £ 17.5m, with an additional payment in respect of surplus working capital in the business at closing of £ 1.3m, plus an earn out payment.

accesso said the earn out would be based on the financial performance of Ingresso for the year ended 31 December 2017 and if it exceeded its financial performance in 2016.

The earn out payment, capped at £ 10.5m, would be payable in cash and was secured by a floating charge on the assets of Ingresso. accesso said thje total aggregate consideration excluding the working capital adjustment, was capped at £ 28.0m, assuming that the earn out was achieved in full.

At 8:55am: (LON:ACSO) Accesso Technology Group share price was +45p at 1620p

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