Be Heard Group plc (AIM:BHRD) agreed to acquire Kameleon Worldwide Limited for £10 million on December 6, 2016. Be Heard agreed to an initial consideration of £4.05 million. A deferred consideration of £3 million is payable in equal instalments over the three years to 2019 subject to gross revenue reaching 110% of the previous year's level. An additional 'stretch' payment will be payable in 2019 if Kameleon achieves sales and EBITDA of at least £8.1 million and £1.62 million respectively. The total deal is capped at £10 million. Kameleon is being acquired on a debt free/cash free basis. Both the initial and deferred considerations will be paid 65% cash and 35% shares in Be Heard. Any stretch consideration will be payable 50% cash and 50% shares. The initial consideration and associated expenses will be funded from the Group's cash reserves. Kameleon Worldwide reported adjusted EBITDA of £0.53 million and gross revenues of £2.43 million for the financial year ended December 31, 2015. The acquisition is expected to be materially earnings enhancing in the first full year of ownership. Nick Westlake and Kevin Cruickshank of Numis acted as nominated advisors and James Black of Numis acted as corporate broker to Be Heard. Elly Williamson and Charlie Stewart of Bell Pottinger acted as a PR advisors to Be Heard. Mark Bomer, Toby Mason, Lewis Winston, George Byron and Conor Lambert of BDO acted as financial advisor for Be Heard Group. Kingston Smith LLP acted as accountant for Be Heard Group. Lewis Silkin acted as legal advisor for Be Heard Group. Osborne Clarke acted as acted as legal advisor for the vendor and Green Square acted as financial advisor for Kameleon Worldwide. Be Heard Group plc (AIM:BHRD) completed the acquisition of Kameleon Worldwide Limited for £10.5 million on December 6, 2016. The total consideration paid £2.105088 million in cash, £1.133509 million in 33,585,456 shares at £0.03375 each, £1.347082 million as Deferred consideration and £5.951753 million as Contingent consideration.