Eagle Eye jumps on float and closes its £4.5m 2ergo takeover

Oliver Smith
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RETAIL and hospitality voucher firm Eagle Eye Solutions, where former Tesco boss Sir Terry Leahy is an investor and director, saw its shares jump almost 10 per cent to 180p during its first day of trading yesterday.

Eagle Eye raised £6m from its oversubscribed placing on London’s Alternative Investment Market, hitting a £36m valuation.

“Today’s admission to Aim marks a major milestone in Eagle Eye’s development,” said chief executive Phill Blundell.

The company also completed the acquisition of mobile marketing and messaging firm 2ergo for £2.5m cash and 1.2m shares.

“The combination of the new investment and the acquisition of 2ergo ideally positions us to meet the accelerating demand for our multi-channel digital solutions, which is underpinned by our patented technology and global partners,” added Blundell.

Panmure Gordon was financial adviser, nominated adviser and broker on the placing with a team including Hugh Morgan, Callum Stewart and Charles Leigh-Pemberton.