Vianet Buys Vendman October 2017

Vendman UKVendman News

From the news archives: Vianet buys Vendman: Wednesday 4 October 2017,  Vianet Group PLC  announced the acquisition of  Vendman for £4.3m. Under the terms of the deal, Vianet will pay an initial cash consideration of £2m and a further payment of £2.3m, based on Vendman hitting agreed financial targets. Vianet said it intends to fund the initial cash consideration by a bank loan and the earn-out payment from cash reserves. ‘The acquisition of Vendman will create significant cross-selling opportunities.’ Vianet said the acquisition of Vendman will create significant cross-selling opportunities and will establish a comprehensive portfolio of software solutions for the retail industry. The deal is expected to enhance Vianet earnings in 2019 financial year, the first full year of … Read More