(Sharecast News) - Business-critical services and software firm Marlowe said on Monday that it had acquired VinciWorks Legal and Hydro-X Group for a combined consideration of up to £84.0m, funded from cash and debt resources.
Marlowe said it was "significantly advancing" its digital offering by acquiring Vinci Legal, the UK's leading regulatory compliance eLearning and software solution, whilst also progressing its "Deepen" strategy with the addition of Hydro-X and its subsidiaries, a leading water treatment and air hygiene business.
The AIM-listed group stated the acquisitions of VinciWorks and Hydro-X also broadened its end-to-end compliance software offering within governance risk and compliance and deepen its leading presence within existing testing, inspection and certification markets.
Following the completion of both acquisitions, Marlowe expects run-rate revenues to be approximately £325.0m and run-rate adjusted underlying earnings to be roughly £57.0m.
Chief executive Alex Dacre said: "Together, the acquisitions of VinciWorks and Hydro-X form a major step in delivering on the strategy announced at our Capital Markets Day, deepening our market share in attractive regulated TIC markets and significantly developing our digital proposition.
"Whether via software or services, Marlowe is committed to becoming the one-stop-shop for customers' safety and regulatory compliance needs."
As of 0935 BST, Marlowe shares were up 2.71% at 872.0p.
Marlowe (MRL)30 Apr 2024 15:44
Berenberg slightly lowers target price on Marlowe
(Sharecast News) - Analysts at Berenberg slightly lowered their target price on business-critical services and software firm Marlowe from 720.0p to 71...
