Techniche raises $3m to fund Ungent buy

Techniche raises $3m to fund Ungent buy

Technology investment company Techniche has raised $3 million via a share placement, to help fund its £3 million ($4.92 million) acquisition of asset management software developer Ungent.

The oversubscribed placement saw 75 million new shares sold at $0.04 per share, Techniche said.

Directors, senior management and associates together subscribed for $700,000 of the placement.

Ungent plans to raise a further $3 million for the acquisition via a 1-for-1 non-renounceable rights issue.

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Tags Mergers and acquisitionssoftwareTechnicheUngent

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