LONDON (Alliance News) - Management Resource Solutions PLC on Thursday said it acquired unmanned aerial vehicle specialist Alerion Consulting Ltd for GBP1.3 million.
Management Resource will issue 26.4 million shares at 5 pence each to Alerion's founder Elliott Talbott to cover for the acquisition cost. Admission of the new shares to trading is expected on April 4.
Management Resource shares were trading 1.9% lower at 4.61p each on Thursday afternoon.
"We are very pleased to have acquired Alerion which is an exciting business that will complement the service offering of the MRS Group, further enhancing the industry-leading services we offer to our customers. The acquisition demonstrates the Group's business model of acquiring complementary businesses while securing cutting edge, technology-enhancing products, giving MRS a significant advantage in its field," Chair John Zorbas said.
Talbot will also remain for an initial period of one year with the company to lead the build-up and deployment of MRS' new unmanned aerial vehicle-based services.