Gresham House Sells Part of IMI Mobile Stake.
MANews-(C)2009-2018
21 August 2018 - UK-based closed end fund Gresham House Strategic plc (LSE: GHS) has realised 42.2% of its holding in IMImobile (LSE: IMO) for GBP 9.6m (USD 12.39m), which generated GBP 4.96m of profits for the company, the company said.
MImobile is a software and solutions company that enables organisations to use mobile and digital technologies to communicate and engage with their customers.
This realisation represented a 19% IRR and 2.13x money multiple, significantly above the company's said target return of 15% IRR.
Following the sale, the company has a resultant holding of 6.3% of the issued share capital of IMI.
Country: UK
Sector: Computer Software
Target: IMImobile/42.4% of Gresham holding
Buyer:
Vendor: Gresham House Strategic
Deal size in USD: 12.39m
Type: Divestment
Financing: Cash
Status: Closed
Buyer advisor: , ,
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| Publication: | M & A Navigator |
|---|---|
| Date: | Aug 21, 2018 |
| Words: | 142 |
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