Mercia Technologies Buys 21% Stake in VirtTrade For GBP1.5 Million

Tue, 27th Jan 2015 09:05

LONDON (Alliance News) - Mercia Technologies PLC said Tuesday that it has bought a 21% stake in digital card trading platform technology operator VirtTrade Ltd for GBP1.5 million.

VirtTrade was formed in 2012, and has recently secured key intellectual property rights, and a partnership with an undisclosed owner of intellectual property rights. It is target the release of its first cards on the platform later this year, Mercia said.

"The trading cards sector has yet to succumb to the digital revolution and we believe this business is well placed for rapid growth across multiple markets," said Chief Executive of Mercia Mark Payton in a statement.

Shares in Mercia are trading up 1.5% at 66.00 pence Tuesday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Mercia Asset