Access Intelligence Plc (AIM:ACC) acquired Fenix Media Limited and Face US Inc. (Pulsar) from Cello Health plc (AIM:CLL) and Cello Health Inc. for £4.7 million on October 2, 2019. As part of consideration, Access Intelligence Plc will issue 8.6 million shares to Cello Health plc for Fenix Media Limited and will pay £1 to Cello Health Inc. for Face US Inc. in cash. The value of the consideration may be subject to adjustment following completion in accordance with the terms of the acquisition agreement but any adjustment will be satisfied in cash and the number of consideration shares will not change. For the year ended 31 December 2018, Pulsar generated unadjusted losses before tax of £1 million from unaudited revenues of £7 million, gross profit of £4 million and an adjusted EBITDA loss of £0.5 million. As at December 31, 2018, net liabilities were £0.2 million and as at June 30, 2019, Pulsar had gross assets of £3.2 million. Giles Balleny, Harry Hargreaves of Cenkos Securities acted as financial advisors for Cello Health plc. Marc Milmo, Kate Bannatyne and Matthew Radley of Corporate Finance acted as financial advisors for Access Intelligence Plc.

Access Intelligence Plc (AIM:ACC) completed the acquisition of Fenix Media Limited and Face US Inc. (Pulsar) from Cello Health plc (AIM:CLL) and Cello Health Inc. on October 2, 2019.