A major cross-border acquisition dominated the tech and diagnostics space as Halma (LSE:HLMA) moved to buy French firm Dreampath for up to €275m, even as its shares slipped on the news. Elsewhere, fundraising activity was brisk, with IntelliAM AI and EnSilica both tapping markets to fund growth, while Vianet Group delivered a first-quarter trading beat that pushed its cashless penetration past the 70% mark.
Halma acquires French diagnostics firm Dreampath for up to €275m
Halma (LSE:HLMA) struck a deal to acquire Dreampath, a French diagnostics business, for a consideration of up to €275m. The acquisition targets what Halma's chief executive described as a high-quality business operating in a growing segment of diagnostics, driven by rising demand for healthcare testing alongside new treatments and increasing rates of chronic disease in ageing populations. The deal underlines Halma's continued strategy of bolt-on acquisitions in safety, health, and environmental technology markets. Shares in Halma fell 4.25% to 3,740p on the announcement.
IntelliAM AI raises £500,000 for US expansion and platform rollout
IntelliAM AI (LSE:INT) raised £500,000 through a combination of a share placing and convertible loan notes to fund its push into the United States and the launch of its new industrial AI software platform. The fundraise is designed to accelerate the company's commercial momentum at a critical stage of its international expansion. The announcement drove the shares up 16.67% to 84.0p.
EnSilica opens retail offer alongside oversubscribed institutional raise
EnSilica (LSE:ENSI) completed an oversubscribed placing and subscription before opening a retail offer inviting UK retail investors to participate on the same terms as institutional participants. The retail tranche is seeking to raise up to £1m, with a general meeting scheduled for 27 July to approve the conditional portion of the raise. The chip design specialist's shares edged down 1.08% to 91.5p.
EnSilica confirms oversubscribed placing completion
Alongside the retail offer announcement, EnSilica confirmed that its institutional placing and subscription had closed oversubscribed, reflecting strong demand from existing and new investors. The two-stage structure, with the conditional tranche subject to shareholder approval at the 27 July general meeting, is a standard mechanism for raises of this size, allowing the company to secure commitments while satisfying regulatory requirements.
Tekcapital's Innovative Eyewear lines up 345-store Canadian rollout
Innovative Eyewear, a portfolio company of Tekcapital (LSE:TEK), secured a national distribution agreement to place its Lucyd Armor smart safety eyewear across 345 FYidoctors and Visique clinics across Canada, marking the brand's first entry into Canada's $4.5bn optical market. The rollout represents a significant commercial milestone for the product line, which combines protective eyewear with smart technology. Tekcapital shares fell 15.84% to 4.25p on the session.
Vianet Group first-quarter trading beats forecasts as cashless penetration hits 73%
Vianet Group (LSE:VNET) reported first-quarter trading ahead of management expectations, with both its IoT data and payments divisions growing recurring revenue and contribution. Cashless payment devices now account for 73% of the group's estate, up from prior levels, reflecting continued adoption across its pub and hospitality customer base. The positive update lifted the shares 3.03% to 68.0p.
