By Joe Hoppe
Elixirr International said it has bought Responsum Inc. for a maximum consideration of $6.4 million in a cash and stock deal, and said its profit and revenue rose.
The London-listed consultancy said Monday that U.S.-headquartered Responsum has developed proprietary artificial intelligence software, and the acquisition brings specialist services in emerging technology, large language model and generative AI into the group. It said Responsum complements its service offering and data and analytics capabilities in particular.
The purchase consists of an initial cash consideration of $2.0 million in cash, $3.4 million in shares and potential earn-out payments of up to $1.0 million in cash, contingent on financial performance.
“This is just one of many acquisitions we intend to make in areas that add real value to the change journeys and value creation opportunities our clients have,” Founder and Chief Executive Stephen Newton said.
The company also reported a first-half increase in pretax profit, rising 17% to 9.9 million pounds ($12.3 million) and a 23% increase in revenue to GBP41.1 million. It said it continues to expect to report revenue for the full year within the guidance range of GBP85 million-GBP90 million.
Shares at 0710 GMT were up 10.0 pence, or 1.75% at 582.5 pence.
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