Retec Digital (RET.L), yet another under performing AIM Listed business have just acquired Liquid Digital for £150,000 cash and £100,000 in Retec Digital stock.
Retec Digital Plc describe themselves as a multi-channel marketing services company and one of the UK’s largest providers of guided selling solutions.
They do count Tesco, Asda and Sainsbury’s amongst their client base.
LONDON (Thomson Financial) – Digital marketing company Retec Digital Plc. said it is buying in-store screen operator Liquid Digital Ltd. for 250,000 pounds, which will be paid with 150,000 pounds cash and the issue of 3.8 million shares.
Retec also said it is repaying loans of 50,000 pounds to Liquid shareholders as part of the deal. However, Retec said it will receive a new 100,000 pound loan, repayable on Dec. 31, from the principal shareholder in Liquid.
In the year to May 31, 2007, Liquid had an unaudited turnover of 551,000 pounds and pretax profit of 20,000 pounds.
Liquid Digital are better known for WH Screen and their work with CabVision.