Featurespace bought by VISA26 Sep 2024 15:03
As a result, IP Group expects to receive £134m total cash for its holding in Featurespace. Of this, £119m will be received on completion and £15m will be subject to deferral, as is typical for an acquisition of this type. The Directors anticipate that the transaction will result in an increase from the Group's FY23 net asset value of approximately £51m1 (a 70% increase), of which £37m1 was recognised in our HY24 results. This further evidences the appropriateness of the Group's approach to portfolio valuation. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals, and the Group will provide a further update following completion.