Card Clear buys HTEC

Saturday 24 January 1998 00:02 GMT

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Card Clear buys HTEC

Card Clear, the credit card payment and fraud prevention group, is to buy HTEC Group, a supplier of retail loyalty systems, for about pounds 24.5m in a mixture of cash, shares and loan notes. The acquisition is being made by means of a reverse takeover. The company also announced that pre-tax profit in the 11 months to 30 November rose to pounds 1.73m from pounds 1.08m.

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