BATM Advanced Communications Ltd. (LSE:BVC) entered into an agreement to acquire Green Lab Hungary Engineering Ltd for $3.8 million in cash on January 25, 2016. Upon the closing of the transaction, Group will pay $1.9 million in cash from its own resources in exchange for 50.1% of the share capital of Green Lab and three deferred cash payments - payable at 12 months, 24 months and 36 months after the closing of the transaction totaling a further $1.9 million for the remaining 49.9%. Judit Jeney, the founder and Chief Executive Officer of Green Lab, will join the BATM management team. Green Lab annual financials for the year ended December 31, 2015, are unaudited revenues amounting to $3.3 million and operating profit of $0.62 million. Green Lab's unaudited gross assets amounted $1.9 million. The Acquisition is expected to be earnings accretive in the financial year ending December 31, 2016.

Stuart Andrews of FinnCap Ltd. acted as a financial advisor to BATM Advanced Communications Ltd. and Harry Chathli and Claire Norbury of Luther Pendragon acted as a PR advisor to BATM Advanced Communications Ltd.

BATM Advanced Communications Ltd. (LSE:BVC) completed the acquisition of Green Lab Hungary Engineering Ltd. in January 2016.