AVEVA shares soar on double acquisition

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.