Australia's archTIS at near 1-1/2-year low on deal with Cipherpoint
20/09/2021 06:21
** Shares of archTIS Ltd AR9.AX slip as much as 11.84% to
A$0.335, their sharpest fall since May 11, 2020
** The data security co said it will acquire tech assets
including customers, staff and the European operations from the
software division of rival Cipherpoint Ltd CPT.AX urn:newsml:reuters.com:*:nFWN2QK05Y
** Deal for A$1.4 mln ($1.01 mln) cash
** Adds that A$1 mln further consideration to be paid by
issue of shares under co's 15% placement capacity after March
31, 2022
** About 873,894 shares change hands, 1.4-times the 30-day
avg volume of 311,821
** As of Friday's close, archTIS' stock up 22.6% so far this
year
($1 = 1.3829 Australian dollars)
(Reporting by Aneetta Thomas in Bengaluru)
((Aneetta.Thomas@thomsonreuters.com;))