News: IM Medical to raise capital, make strategic acquisition

IM Medical (ASX:IMI) has been granted an ASX trading halt in relation to a capital raising and strategic acquisition.

The halt will last until the earlier of the announcement or the start of trade on Tuesday, 23rd December 2014.

Earlier this year, the company flagged that it was looking to finalise an acquisition to deliver meaningful value.

Its objective is to develop a presence in the data centre business, which is expected to show growth in the future as companies and consumers recognise the value and security of cloud storage.