Netcall plc (AIM:NET) acquired Skore labs Limited for £6.2 million on January 23, 2024. The total consideration for the Acquisition, including earnout, is up to £6.225 million, of which up to £4.225 million is dependent on the performance of Skore. The initial consideration is £2.0 million, payable in cash from Netcall's existing cash resources, with £1.8 million payable on completion and £0.2 million is held back and deferred for 12 months. Up to £4.0 million of the earnout consideration is payable subject to Skore achieving contracted annualised value of software subscriptions ("Annualised Subscription Value") growth from 0.6 million to 2.0 million within three years of acquisition. The payment will be pro-rata, measured annually, and paid 50% in cash and 50% in Netcall shares with elements of both deferred until the end of the earnout period. Any Netcall shares issued will be subject to a 12 month lock-in for the management shareholders of Skore. The balance of the earnout contingent consideration is payable in cash and is dependent on achieving a minimum level of Annualised Subscription Value in the earnout period. All of the current team of Skore will remain with the Netcall Group. For the year ended 31 December 2023, Skore had revenues of £0.449 million with an adjusted EBITDA loss of £0.055 million. Simon Bridges and Andrew Potts of Canaccord Genuity Limited acted as financial advisor to Netcall in this transaction.

Netcall plc (AIM:NET) completed the acquisition of Skore labs Limited on January 23, 2024.