Sepura, the developer and supplier of TETRA digital radios, has acquired 3T Communications, a supplier of TETRA infrastructure, for an initial cash consideration of 8m euros. The final price could increase by up to 5m euros, depending on 3T's trading performance. Austrian firm 3T designs and implements small to mid size TETRA systems predominantly for the commercial sector, including enterprise customers such as Shell, RWE, Bayer and BMW. The acquisition is expected to be earnings enhancing to Sepura for the current financial year and beyond.
Electrical component supplier e2v technologies has agreed the sale of its non-core businesses, for a total cash consideration of £14.7m, to a newly formed company, SGX Sensortech, backed by Baird Capital Partners. The non-core businesses comprise: e2v Scientific Instruments, based in High Wycombe; the industrial gas sensing business based at e2v's Chelmsford facility; and e2v micro-sensors SA based in Neuchetel Switzerland. They provide a range of professional sensing products for x-ray spectroscopy and gas sensing for automotive and environmental safety applications.
ReNeuron, the Surrey based stem cell developer, has signed a cell manufacturing contract with Angel Biotechnology, a bio-pharmaceutical contract manufacturer, to perform drug product manufacturing services as part of the PISCES Phase I clinical trial of ReNeuron's ReN001 stem cell therapy for stroke victims. The remaining dose cohorts in the current study are expected to complete treatment within the next twelve months, and the company maintains its belief that the study will be ready for application for phase two during the course of next year.
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Arden Partners, an institutional stockbroking company, has revealed that trading during the six months ended April 30th has been better than anticipated with revenues and profitability ahead of budget. Since the year end the company has increased the number of brokerships to 34 and this number is expected to grow in the medium term. The average market capitalisation of its clients is now £195m. Performance in the second half of the year will depend on market conditions, which given the situation in Europe dictates a need for some caution, the firm warned. The company intends to return to the dividend list from the interim period.
Yell, a digital services provider, has acquired Moonfruit, the UK's leading DIY website and online shop builder, for £18m, a part of its programme of creating a local eMarketplace. The firm was purchased using Yell's existing cash reserves. Retention bonuses of as much as £5.2m will be paid to key Moonfruit management after two years, provided that they remain exclusively employed by Yell. In a statement Yell said: "The deal is a significant move in Yell's ongoing transformation from its established position in providing print and online advertising for small and medium-sized enterprises (SMEs) to become a leader in the emerging local eMarketplace."
Source BioScience, a diagnostics and genetic analysis business, has enjoyed a period of sustained growth and development during the first three months of 2012. Revenue saw a double digit percentage increase compared with the same period last year, boosted by significant progression of LifeSciences' DNA sequencing services and Healthcare's cervical cancer screening business. Trading was in line with management expectations and the group remains in a robust financial position with £1.7m of cash at the end of March 2012 (31 December 2011: £1.1m).
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Annual house price growth halves to 3.5% – ONS
Nationwide pays £100 to millions of people – have you received the payment?
