Internet of Things company Vianet has bought an America firm in a deal that could be worth up to £4.5m.
Vianet, which has its headquarters in Stockton-on-Tees, has bought Denver-based Beverage Metrics Inc (BMI), which provides inventory software solutions to the USA hospitality sector. The deal - worth an initial £577,500 - includes customers, an established operating platform, software IP, patents for barcode 3D scanning and advanced technology for point-of-sale data integration.
BMI’s five employees will be brought into Vianet’s USA subsidiary Vianet Americas Inc. Vianet is now issuing 700,000 new shares to raise the £577,000 initial consideration payment. A deferred consideration of 7% of Vianet America’s net revenue from 2024 to 2028 is also included in the deal, capped at a maximum of £4m.
