Xchanging buys Total Objects in £21m deal
Insurance software provider will continue under same name.
Xchanging has acquired Total Objects Limited for a total cash consideration of up to £21m.
Of this, £11.5m is payable on completion, and up to a further £9.5m is payable in 2015, 2016 and 2017, although £1.5m is deferred with the balance subject to certain performance targets being achieved.
The deal, which is subject to to clearance by the Competition and Markets Authority, will see all of Total Objects’employees and management join Xchanging.
Total Objects will also continue to be marketed
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