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Technology / AI and automation

ALPHAREL TO PAY $15m FOR TRIMCO

Alpharel Inc, San Diego has a letter of intent to acquire Trimco Group Plc, Ealing, London W for $14.64m – $6.55m in cash and $8.1m in new Alpharel shares. Jay Tanna, managing director of Trimco, will become the single largest shareholder in Alpharel, holding about 7% of the shares. Trimco supplies enterprise-wide document management systems and reported $363,000 profit on $8.8m sales for the year ended June 30.

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