Mergers and Acquistions News
Categories: Software
June 21st 2011, 15:46PM
Mission Capital, the holding company of technology and telecoms outsourcing company Quindell, has struck a deal with Business Advisory Service (BASL) to acquire its entire share capital.
The company is to pay £8.2 million for the deal by issuing 270,000,000 shares in itself.
According to a statement made by Mission Capital the purchase is part of its strategy to increase its customer base. It will also bring new contracts the BASL has already secured, and let the company benefit from the investment which BASL has made in its customer relationship management technology.
Mission Capital acquired Quindell Limited in early May following a six-month process. It paved the way for the company to be readmitted to trading on AIM, where it entered with a market capitalisation of over £33 million.
A total of 1,351,602,603 of its ordinary shares were admitted for trading to begin on May 17th at 8am under the ticker symbol MCAP.
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