App monitoring service AppScatter Group PLC (LON:APPS) has agreed the £13.5mln acquisition of German firm Priori Data, albeit on slightly different terms than those originally set out.
When it first announced the takeover back in April, the AIM-quoted firm was paying £9.45mln in cash and £4.05mln in shares.
READ: appScatter still hopeful of completing £13.5mln Priori Data acquisition
But the window for that deal to be completed expired last week so a new agreement has been drawn up, with appScatter now paying £1.8mln in cash and the remaining £11.7mln in stock.
To fund the cash part of the deal, the company has raised £1.6mln through the sale of 2.32mln new shares at 70p apiece. A further fundraise at the same price has also been arranged for investors who had been waiting to receive UK tax clearances before putting their money in.
“I am delighted to have reached revised terms for the acquisition by appScatter of Priori,” said chief executive Phillip Marcella.
“I strongly believe that the combination of the appScatter platform and the data held by Priori will significantly advance the company's development and positioning.
“We are already collaborating with Priori on several new high-profile clients - with growing interest in the abilities of the enlarged group from key potential enterprise customers.”
AGM on June 29
Berlin-based Priori runs an app data intelligence operation and combined with appScatter’s existing service, will enable the performance of millions of apps and billions of devices to be analysed.
By combining the data from both companies, it is hoped that brands, app publishers, advertising agencies and mobile networks will be able to conduct more targeted demographic campaigns.
appScatter expects shareholders will formally approve the deal at the annual general meeting later this week.
In early afternoon trading, AppScatter shares were up 0.8% at 62.5p.
-- Adds share price --