29/10/2002
Internet investment business Brainspark, which reported significantly reduced half-year losses of £811,000 (£8.3m) for the six months to June, has welcomed 5 new companies into its portfolio following a £5.1m deal with sister company, Infusion. Brainspark will issue more than 64m new shares at 4.2p and hand over £2.32m in cash to fund the transaction, taking control of the likes of Italian 'Earth observation' software developer ACS, web-traffic monitoring firm Impression and venture capital fund SVG along the way. As both Brainspark and Infusion are effectively owned by, and share directors with, Italian technology consultant AISoftware, the deal takes the form of a related party transaction.
| Market cap: | £5.2m |
| PE Forecast: | n/a |
| Share price: | 4.25p |
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