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IRESS Limited (ASX:IRE) says its purchase of financial services software provider Avelo FS Holdings is now complete, after getting the go-ahead from the UK Financial Conduct Authority.
The acquisition was announced earlier this month for a purchase price of 210 million British pounds, funded by internal cash resources, new debt and an underwritten pro-rata accelerated renounceable entitlement offer to raise $206 million.
IRESS has completed the institutional and retail components of its equity raising.
The institutional component of the entitlement offer raised $152 million.
IRESS generated a net profit of $17.8 million in the first half of fiscal 2013.
News: IRESS buys Avelo
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