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Alterian Acquires Intrepid Consultants For Total Consideration Of Up To $11.5 Mln

Software developer Alterian plc (ALN.L) announced Wednesday that it has purchased Intrepid Consultants Inc., an international social media analytics and market research consultancy, for a total consideration of up to $11.5 million.

The company said that the Initial consideration of $3.5 million will be paid as $2.5 million cash from Alterian's existing cash resources, and the issue of 361,427 new ordinary shares in the capital of Alterian at a price of 179.4 pence each.

Additional potential consideration of up to $7.35 million in total is payable during the period up to 31 March 2013 subject to the attainment of specific revenue performance metrics with a further $0.65 million available for bonuses for certain individuals based on their contribution to the achievement of those performance metrics.

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