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Asset management consultancy MJ Hudson said it had acquired Germany-based Peracs, a fund performance analytics company for up to €6 million.
Peracs, founded by Professor Oliver Gottschalg, a highly respected private equity consultant, entrepreneur, and academic.
'The addition of Peracs to the MJ Hudson's data & analytics division follows the acquisitions of a marketing analytics business in this calendar year, an ESG consultant and services provider last year, and an FX and custodian benchmarking consultancy, in December 2018,' the company said.
The company paid an initial consideration of €1.4 million, of which partly satisfied by the issue of 586,016 in MJ Hudson and agreed to a deferred and earn-out payment of up to €4.6 million, payable over a three-year period, subject to the achievement of certain performance criteria.
At 8:59am: (LON:MJH) share price was 0p at 41.5p