{
  "id": 12806608,
  "title": "Built Cybernetics to acquire Ecolibrium for £3m fundraise",
  "url": "https://urgent.news/2026/10/08/built-cybernetics-to-acquire-ecolibrium-for-3m-fundraise",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T06:31:08.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/built-cybernetics-to-acquire-ecolibrium-for-3m-fundraise-93CH-4937961"
  },
  "original_language": "en",
  "account": null,
  "summary": "Built Cybernetics PLC has announced plans to acquire Ecolibrium Inc. through a reverse triangular merger under Delaware law, with the acquisition being funded through a £3 million fundraising effort. The new ordinary shares issued for the acquisition will satisfy Ecolibrium's debt of $2,405,254, and a bridge loan will be assigned to Built Cybernetics. The company proposes to raise approximately £3 million through a placing of £2.3 million and a subscription of £0.6 million at 1.5 pence per share, as well as a retail offer of up to 10 million new ordinary shares. Ecolibrium operates in the UK and India, with its SmartSense platform deployed at over 600 sites and has secured a letter of award from Airtel Africa for building management services across 40 edge data centers in 14 African countries. The acquisition and fundraising are conditional on shareholder approval at a general meeting expected to be held on November 2, 2026, and admission of the new ordinary shares to trading on AIM.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}