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First Derivatives wholly acquires Spain-based Telconomics09

First Derivatives Plc fully acquired Spain-based analytics software provider Telconomics09 SL for a total consideration of up to €2.5 million.

The deal has an initial consideration of €900,000, of which €400,000 is payable in cash and the remaining €500,000 through the issuance of 12,199 new ordinary shares in First Derivatives. The remaining €1.6 million consideration will be paid subject to the meeting of certain performance targets in the three years after the acquisition.

Telconomics09 recently developed INTEF, a platform for critical activities such as network development strategy, network planning and optimization, which are intended to be incorporated into First Derivatives' Kx Telco Solutions suite.

The founders of the software firm — CEO Alfonso Campo, Javier Lazaro and Juan Blazquez — will retain their current posts.