Rapid Technology entered into a conditional contract to acquire Electric Paper, a specialist in educational products focused on the computer literacy market.
The deal values Electric Paper at €15.5 million in a deal to be financed by the issue of 53,333,333 new shares and €7.5 million in cash.
In addition, Rapid Technology intends to raise €8 million, before expenses, by the issue of 53,333,333 placing shares at 15 cent per share. RTG also proposes to change its name to ThirdForce plc.