Tribal Group PLC - Bristol-based education software and services firm - Acquires Semestry Ltd, which supplies cloud-based scheduling and timetabling software to the higher education market for GBP6.0 million in total.
Tribal will pay an initial GBP4.5 million in cash, and a further GBP1.5 million based on achieving incremental increases in annual recurring revenue over a two-year period from the deal's completion.
The acquisition will be financed from Tribal's existing cash resources, and will expand the group's product portfolio.
Current stock price: 103.00 pence
Year-to-date change: up 19%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Tribal Grp. (TRB)