• M&A

Raketech strengthens US portfolio with ATS Consultants acquisition

By Robert Fletcher

Affiliate business Raketech has added to a recent string of acquisition deals, purchasing the assets of US-facing tipster ATS Consultants.

The agreed total purchase price is $15.5m (£11.4m/€13.4m) on a cash and debt-free basis, with $12m of this to be paid on closing and a further $1m post-closing.

A further $2.5m will be settled through the issuance of new Raketech shares.

The number of Raketech shares issued will be determined by the volume-weighted Raketech share price 30 trading days prior to the closing date. The shares will also be subject to a lock-up period of 36 months following the completion of the transaction.

Read the full story on iGB North America.

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