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Rosslyn Data adds Integritie to its data mining portfolio

Integritie’s specialist is analysing unstructured data and this will be an important add-on for Rosslyn

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Data mining is Rosslyn's speciality

Rosslyn Data Technologies PLC (LON:RDT) has snapped up rival data miner Integritie (UK) to provide a source of recurring sales and broaden its product reach.

Consideration will be £2.59mln to be funded from a £2.21mln placing and up to a further £500,000 through an open offer.

Both are at price of 4.5p or a round a 43% discount to the close yesterday.

Integritie’s specialist is analysing unstructured data and this will be an important add-on for Rosslyn according to chief executive Roger Bullen.

WATCH: 'They add tremendous value to us', says Rosslyn Data's boss on Integritie buy

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“The customer base is complementary to our own and the acquisition will enable us to cross sell both structured and unstructured data services to an enlarged customer base.”

Another key attraction, Rosslyn said, is that it will reduce the reliance on large contracts with long sales cycles in its core data mining business, something which has led to uneven sales over the past three years.

The deal will generate a substantial increase in Rosslyn's recurring revenues, he added, boosting the quality of earnings and reducing overall risk from the ‘reliance on the sale of cumbersome revenue items, the timing of which is always difficult to predict’.

An enlarged recurring revenue base will be more closely aligned to the group's cost base, he added, while in future Rosslyn can help enterprises to mine their structured and unstructured data simultaneously from one place.

An earn-out agreement could see the deal costing a further £750,000 if sales reach £5-7mln.

Integritie made a loss of £2.4mln in 2015 on sales of £3mln.

Costs saving from merging the two companies are forecast at £0.8mln.

Quick facts: Rosslyn Data Technologies PLC

Price: 5.75 GBX

Market: AIM
Market Cap: £11.09 m

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