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Gresham House Sells Part of IMI Mobile Stake.


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


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
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