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UK - Braveheart acquires Inkopo

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Venture investor Braveheart has acquired the entire share capital of Yorkshire-based specialist investment business Inkopo. The consideration comprises an initial cash payment of ТЃ75,000 and three tranches of Braveheart shares over the next two years, subject to a maximum value of ТЃ1.31m.

The number of shares issued, at a price of 39.2 pence per share, will be based on the future performance of Inkopo.

Inkopo, which was formed in 2002, specialises in technology investments and focuses on investment facilitation, portfolio management and management services. The company's turnover for the year ending 31 March 2009 was approximately £452,000 and its profits before tax were £1,200. In 2004, Inkopo won a contract from the government to operate one of the eight regional early growth funds, also known as The Viking Fund.

The acquisition is expected to enhance Braveheart's service offerings, expand its geographic coverage into Yorkshire and increase its funds under management. The enlarged group will have offices in Perth, London and Yorkshire.

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