(Sharecast News) - Management consulting company MJ Hudson has acquired fund performance analytics specialist Prof Gottschalg UG and its subsidiary PERACS.
MJ Hudson said on Wednesday that it will initially pay €1.4m for the business, partly issued by the issue of 586,016 new ordinary shares, while a deferred and earn-out consideration of up to €4.6m was also payable over a three-year period, subject to the achievement of certain performance criteria.
The transaction was expected to be accretive to earnings per share from completion.
Chief operating officer Odi Lahav said: "We believe that adding the PERACS proprietary suite of fund analytics to the MJ Hudson Data & Analytics offering will be very beneficial to our clients and enhances our ability to bring clarity and understanding to the alternative investment industry.
"Looking ahead, the deal also helps us to power the next generation of analytical software tools for our clients, by combining machine learning techniques that we're developing with the more traditional industry standards and the latest academic research."
As of 0845 GMT, MJ Hudson shares were up 1.05% at 48.0p.
16 Jan 2023 14:14
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