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Techniche settles on terms of Urgent buy

Techniche settles on terms of Urgent buy

IT services provider Techniche (ASX:TCN) has finalised the details of its acquisition of Urgent Technology in the UK for £3 million ($5 million).

As expected, Techniche will fund the purchase price from its recent share placement and rights issue.

The consideration includes net tangible assets ranging between £132,000 and £250,000 depending on net asset position as of 31 May.

Ungent is an IT services and web-applications development company, whose leading asset is its eMaintenance web-based software suite.

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Tags Mergers and acquisitionsit servicesUrgent TechnologyTechniche

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