Inspired (AIM: INSE), a leading energy consultant to UK and Irish corporates, is delighted to announce that it has today completed the acquisition of an initial 40 per cent of the issued share capital of Ignite Energy LTD (“Ignite”) (the “Strategic Investment”). Inspired has paid net £5.0 million, calculated on a cash free debt free basis, for the Strategic Investment. Inspired also has an exclusive option, until 31 July 2021, to acquire the balancing interest of 60 per cent under the terms of an option agreement (“Option Agreement”). The Board believes the strategic investment accelerates the Group’s ability to deliver on the stated strategy to grow its market share within the third-party intermediary optimisation services market.

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