discoverIE Group plc (LSE:DSCV) acquired Positek Limited from directors, employees and others for £4.6 million, on a cash free, debt free basis on April 15, 2019. Under the terms of the agreement, an initial cash consideration of £4.2 million, on a debt free, cash free basis with further contingent cash consideration of up to £0.4 million, payable subject to the achievement of certain integration and profit targets in the next 18 months. In related transaction, discoverIE Group plc acquired Hobart Electronics from Gary Kriadis for £19.2 million on April 15, 2019. Initial consideration of £4.2 million will be satisfied from discoverIE's existing debt facilities. On April 16, 2019, discoverIE raised around £29 million via a placing in order to acquire Hobart and Positek. Positek will operate within the D&M division as part of the Variohm business while retaining its distinct brand identity. Positek Limited reported revenues of £1.5 million and EBITDA of £0.6 million for its year ended August 31, 2018 and had gross assets of £1.3 million. The employees of Positek joined discoverIE. The acquisitions and the placing, taken together, are expected to have a neutral effect on underlying EPS in the current year. On a standalone and 100% equity funded basis, the acquisitions would have been enhancing to underlying EPS. discoverIE Group plc (LSE:DSCV) completed the acquisition of Positek Limited from directors, employees and others on April 15, 2019.