Wavestone SA (ENXTPA:WAVE) acquired Pen Partnership Limited for GBP 30 million on August 1, 2022. Wavestone SA signed a conditional acquisition agreement in July 2022. The consideration is GBP 22.5 million and an additional consideration of up to GBP 7.5 million conditioned by PEN Partnership's performance over the next 18 months. The acquisition has been financed by Wavestone own funds. PEN Partnership has successfully grown and scaled the business to reach GBP 19.6 million revenue for its fiscal year ending in March 2022.

Wavestone SA (ENXTPA:WAVE) completed the acquisition of Pen Partnership Limited for GBP 30 million on August 1, 2022.