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Belgravium Technologies Plc Acquires Feedback Data plc from Feedback plc

Tuesday, 14 May 2013 02:00am EDT 

Belgravium Technologies Plc announced that the Company has exchanged a conditional contract to acquire the entire issued share capital of Feedback Data plc (FDP) (the Acquisition), for a cash consideration of GBP 600,000, subject to an adjustment to reflect the debt/cash position at completion. Completion is expected to take place on May 31, 2013. The consideration for the Acquisition will be settled from the Company's existing cash resources. FDP is currently a wholly owned subsidiary of Feedback plc, an AIM listed company. The Acquisition is conditional upon the approval of Feedback plc's shareholders at a general meeting. Feedback plc has sent a circular to its shareholders convening a general meeting to be held on May 30, 2013. FDP provide 'end to end' solutions to a network of long standing customers across three key areas: Time & Attendance, Access Control and Machine to Machine (M2M) device management. On top of that it offers installation, maintenance and support services annually to a number of customers across the sectors mentioned above. 

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1 Aug 2014