Brave Bison (AIM:BBSN) traded higher in early deals as it confirmed its exclusive talks to acquire edu-tech company MiniMBA for £19 million.
The company, in a statement, said the deal would be funded through cash, a new bank facility, an investment from MiniMBA’s founder and a placing.
It is anticipated that MiniMBA, which generated £10.70 million in revenue last year, will be a foundation for a new division at Brave Bison focused on eLearning and business intelligence.
In London, Brave Bison shares rose 5.4% changing hands at 2.69p.
Centaur Media (AIM:CAU), the current owner of MiniMBA, saw its shares rise close to 10%, changing hands at 29.1p.