Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Integrated information and data management services firm Restore plc (LON: RST) said on Tuesday that it has acquired 100% of the share capital of Big Data Management Ltd (1 Big Data), a records management business based in Tilbury, London.
1 Big Data was established in 1994 and had been managing corporate clients records for over 25 years.
Restore said the business is expected to bring in approximately £600,000 per year from its 160,000 boxes. The takeover is part of the company’s growth plans via strategic acquisitions and margin improvement.
Charles Bligh, CEO of Restore, commented: “With our growing confidence in the performance of Restore, we have reactivated many conversations with companies aligned to our growth strategy over the last six months and I am delighted we have agreed this acquisition in the Records Management business as it brings over 160,000 additional boxes to the Group.
“1 Big Data has a great team and a first-class reputation for service and we intend to continue the good work with its customers, whom we welcome to Restore.”
Restore’s share price has risen 1.7% to 389p so far in today’s session.
Restore plc shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Restore shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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