(Alliance News) - Dev Clever Holdings PLC on Tuesday said it has entered into a conditional agreement to wholly-acquire Phenix Digital Ltd.
Dev Clever - which develops career guidance platforms - will buy the multi-service digital agency for GBP100,000 and 3.6 million in shares.
Following admission of the new shares, Dev Clever's share capital will comprise of 435.8 million shares.
"The blend of our existing skills with Phenix's operations within the education sector presents a genuinely exciting opportunity for the enlarged business to take market share as a combined entity. We believe it will enable us to accelerate revenue growth while expanding our footprint within the education sector," said Dev Clever Chief Executive Chris Jeffries.
"I'm confident that the acquisition of the business and integration of both teams will see sales continue to grow and support our objective of reaching breakeven in the third quarter of this year," he added.
The stock was trading 0.5% higher at 3.02 pence each on Tuesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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