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Allocate Software has agreed the terms of a proposed acquisition of Time Care, a Swedish-based provider of workforce management software.
Time Care has a strong focus on the healthcare market and its acquisition will give Allocate a strong geographic footprint in the Nordic region.
The acquisition is expected to be earnings enhancing in the first full financial year of ownership by Allocate.
Allocate is placing 15,100,000 new ordinary shares to raise approximately 8.3m to help fund the acquisition.
Story provided by Business Financial Newswire
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