Gamma Communications plc (AIM:GAMA) acquired Mission Labs Limited from the management of Mission Labs and other shareholders for £46.2 million on March 2, 2021. An additional £6 million contingent deferred consideration will be paid over the next three years after achievement of certain development milestones. The initial consideration was paid in cash from Gamma's existing cash reserves and Gamma had a cash balance of £54 million at December 31, 2020. As part of the transaction, management shareholders, who previously owned 72% of the shares acquired have agreed to re-invest approximately 10% of their cash proceeds into Gamma shares which will be locked up for three years. Mission Labs reported a revenue of £3.5 million, operating profits of £0.4 million and net assets of £2.5 million during the year ended March 31, 2020. Investec Bank plc acted as financial advisor for Gamma Communications. Stephen Jarman, Simon Nolan, Andrew Koffman and Stephen Chalcra of Bermans acted as legal advisors for Mission Labs Limited. Neil Blundell and Zoe Feller of Bird & Bird acted as legal advisors for Gamma Communications. Michael Quinn of Q Advisors and Richard Baker of Acuity Advisors acted as financial advisors to Mission Labs Limited. Gamma Communications plc (AIM:GAMA) completed the acquisition of Mission Labs Limited on March 2, 2021.