AVEVA Group plc, the Cambridge based engineering software pioneer, has turned the tables on the Vikings by using its war chest for a double raid in Scandinavia.
The company’s continuing march to global domination saw the share price soar 19p in early trading to 1198p.
AVEVA is paying around £12.8 million cash from existing resources to buy Danish company, Logimatic Software A/S and some £4.4m for certain trade and assets from ADB Systemer AS, a Norwegian company.
Timetric announced that it has closed an investment round. Participants in the round included Stefan Glanzer, Alex Zubillaga, Sherry Coutu, Matteo Stefanel and Sean Park and Udayan Goyal of Nauiokas Park. Timetric intend to use the capital raised to accelerate the rollout of their network of novel statistical services.
Timetric build services which make statistics useful. They include timetric.com, a leading aggregator of public statistical data, and Timetric Portfolios (http://finance.timetric.com/portfolios), a radically simple and social tool for analysing stock portfolios. All of their services are built on top of the Timetric Platform, their class-leading proprietary service for publishing, analysing, and performing calculations on very large quantities of time-varying statistical data. Their customers include the Guardian and United Business Media.
Timetric was founded by Andrew Walkingshaw, Toby White and Dan Wilson in mid-2008. They were winners at London Mini Seedcamp 2009; the company is now based in Clerkenwell, London, having relocated from Cambridge towards the end of last year.