The 'Daily Mail'?s US operation is buying a risk management software firm for an initial payment of $65 million, to merge it with its UK company, Cartograph.
Harmsworth Publishing, the US unit of media group Daily Mail and & General Trust, will buy software developer Rick Management Solutions for $65 million plus payments of between $21 million and $145 million, depending on future finanical resutls.
It owns 40 per cent of UK-based Cartograph and has an agreement to buy the rest of the company, before it merges the firms. They both provide software to the insurance underwriting industry.
Risk Management made $400,000 profit on turnover of $24.2 million in 1996.
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