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Share Price Information for Mercia Asset (MERC)
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Share Price:
32.70
Bid:
32.00
Ask:
33.40
Change:
0.00 (0.00%)
Spread:
1.40 (4.375%)
Open:
32.70
High:
32.70
Low:
32.70
Prev. Close:
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Don't have an account? Click here to register.Mercia Tech sells emerging star Allinea Software for £18m
Fri, 16th Dec 2016 10:15
(ShareCast News) - Investment firm Mercia Technologies has sold its emerging star software business, to ARM, a semiconductor intellectual property company, for £18.1m, which is 21 times the original investment.The company sold Allinea Software, which develops tools for developing and optimising high performance computing applications and was one of the its emerging stars at the time of its original public offering in December 2014 after being spun out from the University of Warwick.Allinea, whose software is used on about 70% of the world's largest supercomputers, is the first emerging start divestment and represents a "substantial return" for the company.The company will receive an initial £2.6m with a further £300,000 held in escrow for up to 18 months for closing capital calculations and potential warranty claims.It said it will have a £700,000 immediate realised gain, compared to the value of £1.9m at 30 September. The company's invested cost is £1.5m, so the initial proceeds of £2.6m represents a 73% uplift.It said that the sale demonstrated how "early-stage businesses can be effectively supported through Mercia's complete capital solution" programme, which is undertaken through its managed funds, by scaling the assets through direct investment which has the potential, to be bought by top-tier buyers.Mecia chief executive, Dr Mark Payton, said: "The sale of Allinea to ARM is a testament to the value held within our investment portfolio and will enable Allinea to accelerate its development and reach within the growing high performance computing markets, as well as achieving greater exposure in adjacent segments such as machine learning."As a Midlands-based business, this is further evidence of the hidden value we are able to unearth from the UK regions and our university partnerships."Shares in Mercia Technologies were down 0.48% to 50.01p at 0818 GMT.
More News
3 Dec 2018 11:32
Mercia Technologies Outlook Confident As Profit Rises In First Half
LONDON (Alliance News) - Mercia Technologies PLC on Monday said profit grew in the first half of its current financial year on the increased value of its portfolio.The UK technology said to
Read more3 Dec 2018 10:11
Mercia Technologies profits soar as revenues strengthen and expenses narrow
(Sharecast News) - Mercia Technologies saw interim profits soar as a result of increased performance fees and narrowed expenses.
Read more16 Oct 2018 11:42
Mercia Technologies Invests GBP500,000 In Medical Firm Locate Bio
LONDON (Alliance News) - Mercia Technologies PLC said Tuesday it invested GBP500,000 in medical device company Locate Bio Ltd, taking its stake to 6%.Mercia explained that Locate Bio is a
Read more16 Oct 2018 09:23
Mercia Technologies invests £0.5m into medical firm Locate Bio
(Sharecast News) - High-growth technology investor Mercia Technologies announced a new direct investment of £0.5m into Locate Bio on Tuesday.
Read more21 Sep 2018 11:24
Mercia Technologies investee companies reach 'significant' milestones
(Sharecast News) - Technology business investment group Mercia Technologies told shareholders on Friday that, since its 31 March year-end, its direct investment portfolio had continued to make "good overall progress".
Read more21 Sep 2018 10:42
Mercia Tech Chases New Investments As Current Investees Perform Well
LONDON (Alliance News) - The chairman of Mercia Technologies PLC said Friday the company was seeing an increasing number of investment opportunities, whilst its existing investments continue to by
Read more16 Aug 2018 09:04
Mercia's nDreams wins multi-million contract with VR company
(Sharecast News) - National investment group Mercia Technologies announced on Thursday that investee company nDreams has won a multi-million dollar contract with an unnamed virtual reality technology company.
Read more12 Jun 2018 12:29
Mercia Technologies Appoints Caroline Plumb As Non-Executive Director
LONDON (Alliance News) - Mercia Technologies PLC said Tuesday it has appointed Caroline Plumb as non-executive director with immediate effect.Plumb is the co-founder and non-executive chair
Read more27 Apr 2018 10:32
Xeros Technology Non-Executive Viggars To Resign Amid Promotion
LONDON (Alliance News) - Xeros Technology Group PLC, a garment cleaning technology developer, said Friday that Non-Executive Director Julian Viggars will resign from the company in May following -
Read more26 Mar 2018 15:00
Mercia Technologies Fully Pays GBP2.0 Million Deferred Consideration
LONDON (Alliance News) - Mercia Technologies PLC said Monday it has fully paid the GBP2.0 million deferred consideration for its March 2016 takeover of Ventures
Read more22 Mar 2018 14:14
Mercia Technologies Backs Investee Voxpopme With Further GBP1 Million (ALLISS)
LONDON (Alliance News) - Investment firm Mercia Technologies PLC said Thursday it has invested a further GBP1.0 million in investee company Voxpopme is a which
Read more18 Jan 2017 12:14
Mercia invests in battery innovator Faradion
(ShareCast News) - Innovative technology investment group Mercia Technologies announced a new direct investment of up to £1.9m in Faradion, a company focused on the development and commercialisation of advanced, low-cost battery materials, on Wednesday. The AIM-traded company said the investment is
Read more16 Dec 2016 17:28