Ike to raise up to $6.5m to buy US engineering software firm

Thu, 26 Sep 2019

By Paul McBeth Sept. 27 (BusinessDesk) - IkeGPS will raise up to $6.5 million at a small discount to buy US engineering software developer PLT for as much as US$3.4 million in cash and shares. The US firm is profitable and will immediately add to Ike's earnings, but will also open up a chance of cross-selling the IKE Analyze product to a wider customer base, it said in a statement. PLT is forecast to generate a profit of US$300,000 on revenue of US$800,000 in calendar 2019. Ike will pay US$2.5 million for the acquisition with a poten...

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