LONDON (Alliance News) - GAME Digital PLC said it has issued some shares on Friday to partly settle the initial consideration for the acquisition of augmented reality software company Ads Reality Ltd, which was agreed earlier this week.
GAME struck the deal to acquire Ads Reality for up to GBP20.0 million on Wednesday, and has now issued 859,106 shares to the company as part of the initial consideration for the deal.
GAME said the deal will back its push to become an effective digital marketing services provider to its publisher partners by boosting its digital capabilities.
GAME is paying GBP2.0 million upfront to acquire the business, half in shares and half in cash, with a further GBP18.0 million due subject to Ads Reality meeting performance targets.
GAME Digital shares were trading flat on Friday at 110.0 pence each.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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