CPP acquires Blink Innovation

CPPGroup has acquired Blink Innovation Limited for an initial consideration of €1m and an earn-out based on future products developed by Blink.

CPPGroup said the initial sum would be paid on completion with a total maximum earn-out based on up to 20% of defined profits generated up to a maximum of €20m in profits over the next five years.

Blink, which is based in Cork, provides insurance in the background and is set to launch the world's first real time resolution flight interruption insurance.