Shoosmiths advises KBC Advanced Technologies on £11.2m acquisition

Shoosmiths has acted for KBC Advanced Technologies in a multi-million-pound acquisition. KBC has purchased FEESA, a UK-based provider of specialised software and services to the upstream oil and gas industry, for a value of £11.2m — a figure that includes one million KBC shares.

Application will be made for the shares to be admitted to trading on AIM, with admission of the shares expected to occur on 28 July 2014.

KBC’s strategic acquisition will allow the group to span the entire hydrocarbon value chain with technical and business transformation consulting underpinned by deep software intellectual property.