APC Technology Group plc (AIM:APC) acquired First Byte Micro Ltd from Pete Greenslade and others for £1.2 million on January 11, 2018. Of the total consideration, £0.7 million represents cash at completion in First Byte. For the remaining £0.5 million, £0.27 million will be paid on completion from existing APC cash and debt facilities, with the residual £0.23 million being paid in twelve months’ time. The First Byte balance sheet at completion includes £0.2 million of trade debtors which will be rolled into the APC invoice finance facility with ABN giving APC additional cash availability. Pete Greenslade, co-owner and Sales Manager for First Byte will stay with the business and integrate the APC Locator product line into it. Pete will report into Richard Hodgson and, with the rest of the FBM team, will be charged with growing this product line. Mark Brown, Antonio Bossi and Edward Thomas of Stockdale Securities Limited acted as financial advisor to APC. APC Technology Group plc (AIM:APC) completed the acquisition of First Byte Micro Ltd on January 11, 2018.