Asimilar Group PLC - investment company focused on big data, machine learning, telematics and the internet of things - Acknowledges MESH Holdings PLC and AAQUA BV's agreement to acquire behavioural, ethical artificial intelligence and machine learning company Sentiance NV. On completion of the deal, MESH will increase its Sentiance holding to 80%, with the other 20% owned by AAQUA. The deal is set to complete by March 10.
Asimilar holds 24.0 million MESH shares, an 8.3% stake.
All Active Asset Capital Ltd earlier noted the announcement. It holds an interest in MESH through a EUR3.7 million convertible loan note that can, at All Active's choice, be converted to MESH shares at 40 pence per share. All Active also holds an option agreement with AAQUA, allowing All Active to subscribe for as many as 125,000 AAQUA shares at EUR1,000 each, an investment worth EUR125 million if fully exercised.
Current stock price: Asimilar 35.50p; All Active 28.00p
Year-to-date change: Asimilar up 16%; All Active up 70%
By Anna Farley; annafarley@alliancenews.com
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