Topfloor Systems, an Irish property management software company, has been acquired in a €6.2 million deal. The buyer is Grafenia, a London-listed group that builds software-as-a-service systems for businesses.
The company is paying an initial €3.8 million for Topfloor, with a deferred consideration of €960,000 to be paid on the first anniversary of completion. Up to a further €1.4 million is due upon achievement of agreed targets relating to the financial performance of Topfloor.