Search Share Prices
Appscatter pushes back proposed Priori acquisition
AIM-quoted business-to-business software developer Appscatter has made an extension to its proposed acquisition timetable for Priori Data, pushing the date out just over two weeks in order to allow for HMRC to advise whether certain new ordinary shares set to be issued under its fundraise are eligible under the Enterprise Investment Scheme.
Further to Appscatter's announcement on 6 April, the company and its vendors agreed to extend their acquisition agreement long stop date until 31 May, given that its original completion date of 15 May no longer seemed viable.
Appscatter's, with its platform that allows users to distribute and manage their apps on multiple app stores around the world, proposed the acquisition of Priori Data, a B2B SaaS platform provider of mobile app intelligence, back in April.
The firm believes that its purchase of Priori would create a source of app data intelligence drawing on 299bn downloads across five million apps in 55 categories, as well as six billion devices across 252 territories, and entered into a conditional sale and purchase agreement for the acquisition of 100% of the share capital of Priori for a total consideration of £13.5m, of which £9.45m will be payable in cash.
Appscatter said on Friday that it had continued to make "good progress" in regards to the proposed fundraise, and the extension, and would make further announcements, as appropriate, in due course.
As of 1000 BST, Appscatter shares had ticked up 0.21% to 70.15p.