U.K.-based biotechnology and food chain sustainability business Benchmark has acquired Videntis AS, a provider of data technology to aquaculture and agriculture producers, for GBP 300,000 (USD 388.000, EUR 338,200).
Videntis’s technology provides aquaculture producers with real-time data and feedback on feed efficiency, fish welfare, and product quality, and is expected to support Benchmark's strategy of using technology and biology to improve yield, quality and profitability for its customers, the company said in a press release.
"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,” Benchmark CEO Malcolm Pye said in the release. “Data technology is an increasingly important tool to maximize yield and to manage biological challenges. Combined with Benchmark's products, it allows us to offer an integrated solution to our clients.”
Benchmark will make an initial payment of GBP 150,000 (USD 193,900, EUR 169,000) in the form of 246,700 shares of its stock, which is traded on the London Stock Exchange. An additional consideration of GBP 150,000 will be payable on an earn-out basis to September 2020 if pre-determined profit targets are met.
