Mergers and Acquistions News
Categories: Software
March 1st 2010, 17:19PM
Compliance software-as-a-service specialist Access Intelligence has announced the acquisition of Cobent Limited, a provider of training and compliance solutions.
The consideration for the acquisition of Cobent stands at £5.2 million, comprising 33,333,333 million ordinary shares in Access Intelligence and £3 million in cash.
Michael Jackson, executive chairman of Access Intelligence, said that Cobent offers a best-in-class compliance training platform in highly defensive markets, along with a strong management team bolsters by specialist knowledge.
"The acquisition is in line with our plans to focus Access Intelligence as a provider of compliance solutions via software-as-a-service," he added.
"Cobent has good synergies with our existing businesses and we look forward to leveraging the significant expertise of the team in other group companies."
Last month, Cobent announced that it was expanding its sales efforts into the Asia-Pacific region with the appointment of Wai-Bin Lai as vice-president of sales for the area, building on the company's success in the UK and US.
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