The deal is set to close in a few weeks, contingent on the issue of new shares to provide working capital. The deal value is capped at around £1.5 million—£700,000 in cash and 45 million KTS shares, plus a further £300,000 payment in cash or shares subject to Arcontech meeting 12-month revenue growth targets.
Privately held Arcontech is owned entirely by its employees, says managing director Andrew Miller, who describes the deal as "a very good fit at a good time."
Once the deal is complete,
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails