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(Alliance News) - Vianet Group PLC on Monday said it has acquired the trade and assets of Colorado-based food and drink industry technology provider, Beverage Metrics Inc.
The Stockton-on-Tees, England-based provider of retail sales and volume monitoring systems will pay GBP577,500 in shares to Beverage Metrics via the issue of 700,000 new Vianet shares at a price of 82.5 pence each.
Shares in Vianet were up 7.5% at 77.40 pence each in London on Monday midday.
Vianet will also pay up to GBP4 million in cash as part of a deferred consideration for Beverage Metrics.
Assets from the American company will be added to Vianet's SmartDraught draft beer product, which will allow for a more cost effective brand monitoring solution for brewers, Vianet said, as well as establish a "profitable footprint" in the US.
An application has been made for 700,000 new ordinary shares to be admitted to trading on AIM, expected to start on May 19.
Beverage Metrics assets generated a loss of GBP760,000 in 2022.
Vianet Chair James Dickson said: "This increased presence in the USA together with our evolving strategic relationships will give us a significant boost in growing our presence in what is a huge market, as well as providing us with increased opportunities in our UK hospitality operations."
By Sabrina Penty; Alliance News reporter
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