Industry publisher and conferences company Tarsus Group said its US business had agreed to acquire the remaining 19.9% stake in Tarsus Connect it did not already own from Connect Holdco for up to $18.8m.
Tarsus Connect is a US business travel and meetings event company.
A purchase option was exercisable by either Tarsus or Connect Holdco during March in any of the years 2022, 2023 and 2024.
The exercise price would be calculated by reference to the prior calendar year earnings performance, but was capped at $18.8m.
'Tarsus Connect has proved to be a great acquisition for the group and we look forward to expanding and growing the business further in the years ahead,' managing director Douglas Emslie said.
At 9:10am: (LON:TRS) Tarsus PLC share price was -4.5p at 254.5p