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Cello Health and Acess Intelligence settle terms of Pulsar deal

Cello sold Pulsar as it “was deemed to have become a non-core business outside the group's scope of strategic focus, with a business model that was different to the rest of Cello”

Cello Health PLC -

Cello Health PLC (LON:CLL) has reduced the consideration for the sale of its social media analytics business to Access Intelligence PLC (LON:ACC).

Cello will make a cash payment of £1.6mln to correspond to a shortfall in the net assets of Pulsar Platform below the agreed target level at the closing of the deal, with Access Intelligence also buying back 4,076,238 of its own shares to reduce the purchase price for one pound. 

Cello will therefore retain 4.1mln Access shares after this full and final settlement.

The original deal in October, had been for a £4.5mln all-shares acquisition by Access, equating to 8.65mln of its shares, subject to a cash adjustment for any difference from the agreed target level of net current assets at completion.

Cello said the decision to sell Pulsar was made as it “was deemed to have become a non-core business outside the group's scope of strategic focus, with a business model that was different to the rest of Cello”.

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Price: 114.1691 GBX

AIM:CLL
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Market Cap: £121.81 m
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