Loqus Holdings plc - Acquisition of UK Company

On 6 May 2020, Loqus Holdings plc announced that Loqus UK Ltd, a fully owned subsidiary of the company incorporated in England and Wales, acquired 100% of the issued share capital of Simno Software Services Limited (“Simno”), a software company incorporated and registered in the UK which has five employees.

Simno provides software support services to mainly one large customer, which is also a customer of Loqus Group. This acquisition will therefore allow Loqus and Simno to find new synergies and efficiencies, and enable the delivery of a better service to their common client.

The company explained that the consideration to be paid by Loqus UK for Simno shall be paid over a three-year period, out of profits generated by Simno itself.