India, June 26 -- XPS Pensions Group plc (XPS.L) on Friday said it has agreed to acquire the trade and assets of Austin Professional Resourcing LLP, a UK-based specialist actuarial consultancy serving insurers and financial sector clients, as part of its strategy to expand its insurance consulting operations and diversify its revenue base.
Under the terms of the deal, XPS will pay £3.3 million in cash on completion and a further £3 million by March 31, 2027. It may also pay up to £10 million in additional consideration over the following two years if APR meets certain performance targets.
XPS said the acquisition will be funded through XPS's existing cash resources and available debt facilities.
APR had generated revenue o...