LBT Innovations Completes CCS acquisition
- LBT Innovations (LBT) completes the acquisition of Clever Culture Systems (CCS) and now owns 100 per cent
- On December 29, the company signed a binding agreement with Hettich to acquire its 50 per cent holding in CCS
- The acquisition consisted of a $1 million cash payment, the issue of 32.66 million LBT shares for $2.8 million and eight million LBT options
- This acquisition provides LBT with complete control of CCS at a critical time in the commercialisation of its culture plate screening technology
- Shares in LBT are steady on the market and are trading at 11.5 cents
