LMS Compliance (SGX:LMS) has agreed to acquire a 75% stake in Anchor Technology for around $4.5 million from Splendor Certification Co.
Following the completion of the proposed acquisition, Anchor Technology will become a 75% owned indirect subsidiary of the company, a filing with the Singapore Exchange said on Monday.
LMS Compliance will settle approximately 66% of the purchase price through the issuance of new shares in the company to the vendor.
Anchor Technology is engaged in the business of providing certification services for food and edible agricultural products.
Shares of the company were up over 9% in recent trading.
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