Listed biotech firm swoops for Norwegian business

AIM-listed biotech firm Benchmark Holdings has agreed to acquire Norwegian business Videntis, a provider of data technology to aquaculture and agriculture producers. 

The acquisition is for an initial consideration of £150,000 and a total consideration of up to £300,000. The initial consideration of £150,000 is to be satisfied by the issue of 246,700 ordinary shares to Videntis, due to be admitted for trading next week. 

Videntis’ technology enables producers to have real-time data and feedback on feed efficiency, welfare and product quality, supporting Benchmark’s strategy of bringing together technology and biology to improve yield, quality and profitability for its customers.

Malcolm Pye, Chief Executive of Benchmark said: “We have worked with Videntis for a number of years. Videntis’ IP and expertise support our strategy of combining biology and technology to benefit our customers. Data technology is an increasingly important tool to maximise yield and to manage biological challenges. Combined with Benchmark’s products it allows us to offer an integrated solution to our clients.”