Proactis Buys Millstream – Another Smart Acquisition from Yorkshire eProcurement Firm

Last week, Yorkshire-based eProcurement firm Proactis announced another acquisition, picking up Millstream Associates for some £15.5 million. It is the latest in a series of buys, starting at the beginning of 2014, which has seen the firm acquire software firms EGS, Intesource, Intelligent Capture, Due North and now Millstream. The acquisition will be funded by a proposed placing of up to 9,259,260 new shares at a placing price of 135p to raise £12.5 million and a revolving credit facility of £6.0 million.