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Industry: Email Alert RSS FeedNetb2b2 acquires website design company
Telecomworldwire, Sept 19, 2005
TELECOMWORLDWIRE-19 September 2005-Netb2b2 acquires website design company(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
Netb2b2 plc, an AIM-quoted business aggregator focusing on the digital communications sector, announced on Monday (19 September) that it has acquired website design company Fernhart New Media Limited in a deal valued at GBP2.5m.
The acquisition was comprised of an initial consideration of GBP125,000 in cash; the issue of 706,880 new ordinary GBP0.10 shares at a price of GBP0.5305 per share, amounting to GBP375,000; and a deferred consideration comprising the allotment of ordinary shares of up to a value of GBP2m depending on the performance of Fernhart in each of the three years ending 30 June 2008.
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An application will be made for the new ordinary shares to be admitted to trading on AIM which is expected to take place on 22 September 2005, the company said.
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