Restore to buy Data Imaging and Archiving for £1.45m

5th Aug 2015 12:59

(ShareCast News) - Restore has agreed to acquire The Data Imaging and Archiving Company for a cash consideration of £1.45m, which will be funded from existing banking facilities.Imaging and Archiving provides document management services from its base in South London and serves customers in the private and public sectors. For the 12 months ending 31 December 2014, the company's turnover was £1.3m, on which it recorded a small profit.Completion of the deal is expected to take place on 18 August following a staff consultation.At 13:03, Restore shares were down 1.1% at 242.40p.