(Alliance News) - Legal and professional services firm Gateley Holdings PLC said Monday it has acquired media law firm Paul Tweed LLP for GBP2.0 million in cash and shares.
Gateley will pay GBP1.0 million in cash, and issue 529,520 shares at a price of GBP1.8885 each.
The acquisition will provide Gateley with a platform for growth in Ireland, and add weight to its national legal team, particularly the commercial dispute resolution and litigation teams.
"I am delighted to welcome Tweed to Gateley. We have considered expanding into the Irish market for some time and Tweed strengthens our presence in the Irish professional services market. We see this move as a springboard for developing a strong legal services offering in Ireland as well as supporting our growth plans for Gateley Capitus, which was our first transaction as a plc in 2016 and is already well established in Belfast," said Chief Executive Officer Michael Ward.
Gateley now has 116.0 million shares issued overall.
Shares in Gateley were up 4.8% at 181.75 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Gateley Holdings (GTLY)