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(Sharecast News) - Software business Oxford Metrics has acquired measurement specialist The Sempre Group, strengthening its smart manufacturing offering.
Oxford Metrics said on Friday that the total consideration for Sempre was up to £5.5m, funded through a cash consideration of £5.0m from existing resources and up to £500,000 through an earnout contingent on Sempre meeting business performance targets.
The AIM-listed group highlighted that the acquisition was expected to be immediately earnings-enhancing.
Chief executive Imogen O'Connor said: "Today's acquisition of Sempre strengthens our smart manufacturing division, it has synergies with IVS and also brings us a deep pool of industry knowledge, an established sales and services organisation plus access to new customers, partners and products, taking us into new markets. To continue growing our smart manufacturing division our investment strategy needs to be in both people and products with clear commercial and technical synergies."
As of 1025 BST, Oxford Metrics shares were up 5.59% at 60.19p.
Reporting by Iain Gilbert at Sharecast.com
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