Catena Group jumps after buying machine learning group for £27.9mln
A look at the major movers on the London market on Wednesday
1.19pm: Deal lifts acquisition specialist
Catena Group PLC (LON:CTNA) has seen its shares surge after the AIM-listed holding company unveiled a £27.9mln deal and returned from September's suspension.
Its is paying a mixture of cash and shares for Insight, a data science and machine learning solutions company. It already owns 9.1% of Insight, and the acquisition counts as a reverse takeover and needs shareholder approval.
In the market shares in Catena - which will change its name to Insig AI PLC after completion - have jumped 14.9p or 25.25% to 73.9p.