Documetric – technology led outsourcing

Documetric acquires Intelligent Environments Group plc    

Documetric acquires Intelligent Environments Group plc
The information in this section is being disclosed for the purposes of AIM Rule 26.

Proposed Acquisition and Placing
Documetric is pleased to announce that it has agreed to acquire Intelligent Environments Group plc ("IE" ), the AIM listed online financial services software provider.

The acquisition is classified as a reverse takeover under the AIM Rules and subject to shareholder approval, IE will acquire the entire issued share capital of Documetric Limited.

Following the combination of the two businesses, the Company will change its name to Parseq plc.

A placing has also been completed raising gross proceeds of approximately £4.5million.

Rami Cassis, Documetric’s CEO, said:

“I am delighted to make this announcement which will create a financially strong new business under the Parseq name.  We will now have the capability to provide comprehensive technology led outsourcing solutions, which in turn will drive both our scale and our market share and drive growth in both established and new markets. I look forward to announcing further updates in due course.”

Download the full announcement here
Download the full admissions document here