Patsystems acquires systems provider, posts first profit

ISV Patsystems has acquired the entire issued share capital of London-based trading and risk management systems provider Tamesis in a cash and future profit-related deal. The initial cash payment was £61,901, with an earn out based on three times the profit contribution of the acquired company before tax, measured over a two-year period starting from the acquisition date.

Meanwhile, Pats also announced a trading profit of £322,000 for the second...