Microsaic acquires Modern Water assets from DeepVerge and Innoven

(Alliance News) - Microsaic Systems PLC on Friday said it has agreed to acquire assets from DeepVerge PLC and Innovenn PLC for a total consideration of GBP100,000.

The Surrey-based developer of real-time mass spectrometers said the assets being purchased comprised of the trade and equipment of the Modern Water business in its manufacture of Microtox bio-reagents as a consumable known as FX, LX and continuous toxic measurement machines.

The firm said the deal is subject to the delivery of multiple intellectual property assignments by January 24. It noted that upon delivery, it will pay the GBP100,000 consideration.

The firm expects its shares to be restored to London's AIM market on Tuesday next week.

Microsaic shares were last traded at 0.0064 pence each in London.

By Harvey Dorset, Alliance News reporter

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