April 27 (Reuters) - Toumaz Holdings Ltd, an investor in emerging technologies, said on Monday it agreed to acquire the rest of privately held Future Waves UK Ltd for 6.43 million pounds ($9.4 million) in a stock deal.
Toumaz, which already holds a 23.2 percent stake in Future, said shareholders in Future would get 16.22 new ordinary shares for each share held, valuing the fabless semiconductor company at 8.75 million pounds.
It would issue about 91.8 million new ordinary shares.
Toumaz, formerly known as Nanoscience Inc, also said it would raise 2.6 million pounds before expenses by privately placing 43.3 million shares at 6 pence each.
The net proceeds would be used for working capital requirements and its units after the acquisition, it said.
The company said its non-executive deputy Chairman Richard Sykes would move to the role of executive chairman following the placing.
Sykes would replace Toumaz's interim Chairman Christofer Toumazou, who would retain an executive director role.
Toumaz also said it agreed with chip designer Imagination Technologies Group Plc to license a communication and digital radio multimedia IP (intellectual property) platform, thereby extending the existing cooperation in broadcast technologies between the two companies.
The financial details of the deal were not disclosed.
Toumaz shares were trading flat at 7 pence at 0907 GMT on the London Stock Exchange.
