Accumuli Plc. (ACM.L), an independent specialist in IT security and risk management, Friday said it has acquired the entire issued share capital of RandomStorm Ltd., for net cash consideration of 8.9 million pounds.
The total consideration payable by Accumuli is 10.0 million pounds in cash for the entire issued share capital of RandomStorm. At completion there was 1.1 million pounds in cash in the company, which means the net price payable by Accumuli on completion is 8.9 million pounds.
The consideration is being funded through a combination of existing cash resources and new bank debt secured on competitive terms.
RandomStorm is a UK-based integrated information security specialist. According to Accumuli, the combination creates an operation of significant scale, skills and capability unique to the UK IT security market.
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