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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.

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Instem Plc Timeline

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September 19 2016

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