iter8 Quindell RNS implications.

The RNS on the 19th May (see here) regarding the issue of new shares completes the purchase of iter8.

The acquisition of iter8 provided a route for Quindell to enter the  North American Insurance Market, particularly Canada. The iter8 website states business acquired to aid expansion of Quindell Insurance technology into North America (See here).

Acquisition also provided access to the customer base of iter8. Examples of blue  chip customers being: imageimageimage imageimageimageimage image

What is interesting is the original plan was for shares to be issued in three equal instalments with the last instalment not due for another 12 months (see here).

Why have Quindell decided to conclude the deal 12 months early?

Could it be they are preparing the ground to list part of the remaining business in North America?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s