Focusrite plc (AIM:TUNE) acquired Sheriff Technology Ltd for £3.57 million on December 19, 2023. The initial cash consideration of £2.37 million will be funded from internal cash resources and existing facilities. There will also be an earn-out of up to £1.2 million payable in cash based on financial performance metrics including gross profits over a one-year period to December 31, 2024. For the year ended 31st October 2023, OutBoard's unaudited revenue was £1.4 million with an EBITDA of £0.3 million, and gross assets of £0.52 million which includes cash of £0.12 million, Investec Bank plc acted as Financial advisor to Focusrite plc

Focusrite plc (AIM:TUNE) completed the acquisition of Sheriff Technology Ltd for £3.57 million on December 19, 2023.