Mercia Technologies Invests Further GBP3.5 Million In Science Warehouse

Wed, 01st Apr 2015 08:16

LONDON (Alliance News) - Mercia Technologies PLC Wednesday said it has invested a further GBP3.5 million in e-procurement platform Science Warehouse Ltd, taking its stake in the business to 63% from 45%.

Mercia said this latest round of funding will allow Science Warehouse, a spin-out from the Universty of Leeds which already has a profitable business model with 90% recurring revenues, to "further increase its growth trajectory and international expansion".

Mercia Technologies shares were up 1.3% at 60.78 pence Wednesday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1

Related Shares

More News

10 Apr 2024 12:00

Mercia Asset Management reports record fund inflows

(Sharecast News) - Mercia Asset Management released its trading summary for the financial year ended 31 March on Wednesday, with organic fund inflows ...

10 Apr 2024 11:20

Mercia Asset Management hails portfolio's annual performance

(Alliance News) - Mercia Asset Management PLC on Wednesday said it had achieved a record level of organic fund inflows in its latest financial year in...

22 Mar 2024 14:07

DIRECTOR DEALINGS: Hollywood Bowl COO Lewis sells 180,000 shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Friday and not separately...

21 Mar 2024 19:05

EARNINGS AND TRADING: Getech confident; Aukett Swanke makes buy

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately report...

21 Mar 2024 13:38

Mercia Asset Management secures two new BBB mandates

(Sharecast News) - Mercia Asset Management announced an expanded role in bolstering regional business growth on Thursday, with the acquisition of two ...