Cohort finalises MCL acquisition

UK based technology group, Cohort PLC said on Tuesday that it had completed its 2014 acquisition of MCL after it paid a final £2.5m instalment to MCL shareholders.

Cohort funded the payment, which included approximately £1.9m of the former shareholders' share of surplus cash and £600,000 as performance-based value adjustment, from its existing financial resources.

MCL is a sourcing, design, integration and support firm for the defence and security markets.

As of 1040 BST, shares had seen a slight bump, up 1.22% to 372.50p.