Bonkers valuation of January uses its ludicrously valued equity to good effect - not so bonkers!
LoopUp Group, the remote meetings company, is acquiring a larger more profitable player. With the LOOP share price at crazy levels it looks a well-timed move. Read on here…
LoopUp Group (AIM:LOOP) has agreed to acquire Warwick Holdco Limited, the holding company for the MeetingZone Group, a UK-headquartered conferencing services provider, for a total consideration of £61.4m. Bonkers valuation notwithstanding, LOOP is just the sort of small business that AIM should be attracting, but sadly we are seeing fewer of. MeetingZone has approximately 6,000 customers worldwide and international operations in Germany, Sweden and North America. For the 12 months ending 31 December 2017, MeetingZone Group achieved revenue of £22.5m, gross profit of £15.0m and Adjusted EBITDA of £5.0m. Over the same period the richly valued LOOP grew revenue a…