Chime Communications PLC Announces Acquisition Of 20% Minority Interest In VCCP Search Limited

Chime Communications PLC announced it has entered into an agreement to acquire the remaining 20% of the share capital of VCCP Search Limited which it does not own. VCCP Search develops software to support search engine marketing. The consideration for the acquisition of the 20% interest comprises an initial GBP1.3 million in cash and further performance related payments subject to a maximum of GBP6.7 million in cash. Chime is acquiring the 20% interest in the business from VCCP Search's two founders - Paul Mead and David Midgley.