discoverIE Group PLC - Surrey, England-based customised electronics manufacturer - Completes GBP2.1 million acquisition of Newport, Wales-based power-over-ethernet module manufacturer and designer Silver Telecom Ltd, as announced on August 1. Initial cash consideration was funded from discoverIE's existing debt facilities. An earn-out of up to GBP23 million will be payable subject to Silver Telecom's performance over the next four years. discoverIE says the acquisition "is expected to be immediately accretive to group underlying earnings and underlying operating margin".
Current stock price: 729.00 pence, up 1.0% in London on Thursday
12-month change: down 7.7%
By Emma Curzon, Alliance News reporter
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DiscoverIE (DSCV)