APC Technology Group PLC (AIM:APC) entered into sale and purchase agreement to acquire Aspen Electronics Limited from Howard Venning and Robert Johnson for £3.2 million on July 25, 2018. The acquisition is on a cash and debt free basis. Under the terms of the transaction, APC Technology Group PLC will pay a cash consideration of £2.7 million and the remaining £0.5 million will be satisfied by the issue of 7.4 million shares of APC Technology Group PLC. Aspen Electronics Limited has £1 million on its balance sheet which will be distributed to Howard Venning and Robert Johnson. The transaction will be financed partly through proceeds generated from placement of new shares of APC Technology Group PLC, raising £2.54 million. The deal is expected to be completed on July 26, 2018. The acquisition is expected to be earnings enhancing in the first full year after completion. Mark Brown, Antonio Bossi, Rose Ramsden, Henry Willcocks and Fiona Conroy of Stockdale Securities Limited acted as financial advisors to APC Technology Group PLC. APC Technology Group PLC (AIM:APC) completed the acquisition of Aspen Electronics Limited from Howard Venning and Robert Johnson on July 26, 2018. APC Technology Group PLC has raised £2.9 million of which £2.4 million represented for consideration of Aspen Electronics.