Proactive Investors - Run By Investors For Investors

Instem no longer has to make final payment for Logos acquisition

A final £0.7mln had been due subject to Instem Clinical – formerly Logos Holdings – meeting certain performance-related goals, which have been missed
scientist with test tube
Instem's software is used to collate data from clinical trials

Instem Plc (LON:INS) won’t have to make the final payment due for its 2013 acquisition of Logos Holdings after weak trading at the business meant it missed order targets.

The final £0.7mln would have been due next year as part of the £5mln deal.

Instem acquired Logos – which has since been re-named as Instem Clinical – back in May 2013 for an initial fee of £0.55mln, with a further £4.55mln available in performance-related bonuses.

Instem – which provides analytical software to drug developers – had already forked out £4.1mln as part of the acquisition.

No further deferred consideration remains outstanding to Logos’ former owners, Instem said.

View full INS profile View Profile

Instem Plc Timeline

Big Picture
September 19 2016

Related Articles

online payment
July 07 2017
The cash influx will give the proposed new board the financial muscle to take the e-commerce enabler to the next step
Care home worker and old person
March 22 2017
cloudBuy is focusing on big projects such as a web site that could revolutionise how personal health budgets are spent, and its collaboration with Asian bank UOB
people sat round a table discussing the marketing strategy
April 03 2017
Revenues and profits are on the up and the group is making steady progress on its path to profitability

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use