Fujitsu Services Limited entered into a definitive agreement to acquire VME mainframe software business from Gresham Technologies plc (LSE:GHT) for £2 million on January 14, 2019. Under the terms of the agreement, Gresham's VME customer contracts will be assigned to Fujitsu and the intellectual property rights in the relevant software products will be transferred to Fujitsu with effect as of January 31, 2019. The consideration for the transaction will be settled in full in cash on completion. The consideration for the transaction represents approximately 2.3 times and 2.9 times the 2017 revenue and profit attributable to the Business, respectively. The transaction has been approved by the Gresham Board of Directors. The deal is expected to complete on January 31, 2019. Shaun Dobson, Lauren Kettle and Tom Salvesen of N+1 Singer; Philip Davies and Catherine Leftley of Cantor Fitzgerald Europe, and, Alantra Corporate Finance LLP acted as financial advisors to Gresham Technologies plc.