Waterlogic Plc has acquired the entire issued share capital of Prisme SARL, a vendor of POU dispensers based in France, for a total cash consideration of $1.49m.
Prisme has an existing contracted customer base of nearly 2,400 POU water dispensers predominantly in the south of France.
Following completion, Prisme will be merged into Waterlogic France throughout the 2012 financial year, with the aim of driving turnover and profit growth by achieving synergies and cost savings in the combined entity.
Further to the announcement on 6 January, Waterlogic Plc has also completed the acquisition of the entire issued share capital of Det Stavangerske Kaffeselskap (DSK), a vendor of water dispensers and coffee machines based in Norway, for a total cash consideration of $1.46m.
The acquisition was approved by the Norwegian Competition Authority.
Source: Waterlogic Plc