Smartspace Software Plc (LON: SMRT) has completed the sale of its Enterprise software business to Four Winds Interactive UK Limited.
- The company has received an aggregate cash consideration of £4.6 million from Four Winds Interactive UK Limited, which is a subsidiary of Four Winds Interactive.
- The payment is subject to adjustment following completion based on actual net current assets and its cash and indebtedness position, at completion, while a further £0.4 million is deferred pending the receipt of a refund of corporation tax in respect of R&D tax credits for FY 20.
- On 13August 2020, at the time of writing, GMT 10:46 AM, SMRT shares were trading at GBX 69.00, up by 7.50 points or 12.20% against the previous day closing price.
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