Tavistock buys Plus Group in AI push

Tavistock has made an initial £900,000 cash payment for the business, with a further £3.6m to be paid over the next 18 months. It will pay another up to £11.5m in cash over the next four years, a deferred consideration figure that is subject to agreed performance criteria. Plus Group reported turnover of just under £1m and EBITDA of about £340,000 in its last financial year. The deal comes as Tavistock, which will tap into Plus Group's artificial intelligence agent and paraplanning technology, is looking to build a financial services group that combines advice, investment managemen...