BYOT.L Share News (BYOT)

Byotrol, which develops anti-microbial hygiene technologies, has agreed to buy out the rest of Byotrol Consumer Products (BCP).The company will acquire all the remaining assets it does not already own in the joint venture with What If! Innovation Capital Nominees.Byotrol will pay a consideration through the issue of 33,740,000 new ordinary shares. The group expects the acquisition to bring revenue growth through further cross-selling opportunities and cost savings.Since the venture was established in 2007, it has brought in major clients in the consumer products market and given Byotrol access to global markets.For the year ended to end of March 2013, BCP achieved revenues of £858,000 and a profit before tax of £134,000. The transaction is expected to be completed on October 9th and BCP is anticipated to be immediately earnings enhancing for the group."The acquisition of BCP is an important strategic step for Byotrol in being able to fully develop market opportunities," said Chairman Ralph Kugler."The combination of the two companies will increase our sales opportunities in consumer and business markets at a lower overall cost. Byotrol is committed to building on BCP's achievements to maximise value for our shareholders."Shares in Byotrol were up 1.96% to 6.50p at 09:48 on Thursday.RD