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Gresham Technologies plc:

$38.6 million Acquisition of Electra Information Systems

Singer Capital Markets is delighted to have supported Gresham Technologies plc on its $38.6 million Acquisition of Electra Information Systems, Inc. (“Electra”). 

In connection with the Acquisition, the Company has raised £21 million through a Placing of 12,500,000 new Ordinary Shares and the Retail Offer of 625,000 new Ordinary Shares.

The Placing was undertaken by way of an Accelerated Bookbuild process with new and existing investors at the Issue Price of 160 pence representing no discount to the closing mid-market price of the Ordinary Shares on 27 May 2021. The Retail Offer was undertaken by PrimaryBid Limited with retail investors who have subscribed via its online PrimaryBid platform for Retail Offer Shares at the Issue Price.


The $38.6 million Acquisition reinforces Gresham’s market leadership position in reconciliation solutions for financial markets and strengthens the fintech’s rapidly expanding operations in North America.

The Acquisition is expected to be immediately significantly accretive to earnings (when adjusted for one-off exceptional charges, acquired amortisation, IFRS 16 lease charges and share-based payments), in the first part financial year of ownership (year ending 31 December 2021), and further accretive to earnings, on an adjusted basis, in the first full year of ownership (year ending 31 December 2022). The Acquisition will also help the Company secure a leading position in the buy-side market segment and strengthen its US market presence.

Ian Manocha, Chief Executive of Gresham Technologies plc, commented:

“We are delighted to confirm the acquisition of Electra Information Systems and to have received such strong support from existing shareholders, new institutions, retail investors, and from our Board and management. This transformative initiative gives us scale in the important North American market and puts the enlarged Group in a leadership position in buy-side capital markets. Over the coming months, we will be globalising our operations to deliver on the benefits of this transaction for our customers and shareholders, as we execute our ambitious plan to build out a leading global financial technology business. We look forward to providing an update at the interim results in July 2021.”

Singer Capital Markets is acting as Sponsor, Financial Adviser, Broker and Sole Bookrunner to Gresham Technologies plc.

About Gresham Technologies plc

Gresham Technologies plc is a leading software and services company that specialises in providing real-time solutions for data integrity and control, banking integration, payments and cash management. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, its customers include some of the world’s largest financial institutions and corporates, all of whom are served locally from offices located in the UK, Europe, North America and Asia Pacific.

Ticker: GHT
Market Cap: £112.67 million*
Website: Click here

*As at 22/06/2021

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