Property services group Veris, formerly known as Irish Estates, has bought two property management companies for a total initial price of €8m.
Glenrye is a retail property management company which manages the Dundrum Town Centre and Tallaght's Square, while Premier Property Management focuses on the residential market.
Veris will pay an initial €7m for Glenrye, €5.2m in cash and the rest through the issue of 374,000 shares. Further payments will be made depending on future results.
Veris will pay an initial €1m for Premier - €750,000 in cash and the rest through the issue of shares. There will also be additional payments, dependent on further growth.
Veris shares closed five cent higher at €4.60 in Dublin this evening.
