Marlowe PLC - London-based safety & compliance services - Buys CCTV and loss prevention technology solutions provider Hadrian Technology Ltd for an expected enterprise value of GBP3.8 million. The purchase price is composed of an upfront cash amount of GBP2.0 million and a contingent consideration of around GBP1.8 million over four years, dependent on the achievement of profit targets. For its financial year ended July 30 last year, Hadrian posted revenue of GBP4.0 million and had net assets of GBP3.3 million.
Current stock price: 578.96 pence
Year-to-date change: down 11%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Marlowe (MRL)