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Domino ploughs £2.8m into German software firm
Domino Printing Sciences has acquired Germany's Control Information Technology for an initial cash payment of £2.8m (EUR4m).
Additional consideration will be payable based on the results of the combined business over a five-year period.
Control, which will join Domino's Integrated Solutions Group, was sold by Ralf-Gunter Wein and Harald Herres, who will remain alongside all other existing staff.
Net tangible assets acquired were approximately £35,000, while Cambridge-based Domino expects a neutral effect on earnings in the first year.
The Koblenz-based firm develops and sells control software, which allows manufacturers to manage and monitor production line performance and product traceability.
Domino: based in Cambridge
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