LONDON (Alliance News) - ULS Technology PLC on Monday said it has struck a deal to acquire risk management and compliance consultancy Legal Eye Ltd for GBP1.1 million, plus a two-year earn-out.
ULS, which provides online platforms for the conveyancing and financial intermediary markets, will cover the initial consideration in cash and may pay up to GBP4.4 million in total for Legal Eye, dependent on it meeting earnings targets in 2016 and 2017.
"The acquisition of Legal Eye is a very positive move for the group and will help us accelerate our growth as Legal Eye has already earned a strong reputation in its sector," said ULS Chief Executive Officer Nigel Hoath.
ULS shares were up 1.7% to 46.80 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
