Voyagerit.com, the AIM-listed internet, IT and media investment fund has acquired Panda Anti-Virus Software by issuing around 8.2m VoyagerIT shares at 15p a share.
Stephen Moate, managing director of Panda, has signed a 12-month rolling service contract with the company. He has also been granted options over one million VoyagerIT.com ordinary shares. It took an initial 24% shareholding in Panda in April for £150,000 in cash.
The acquisition of the remainder of the company is part of VoyagerIT's investment strategy of acquiring substantial shareholdings in internet and IT firms with demonstrable potential for sales-led profitability.