Horizon Technology Group, has acquired a London-based Internet solutions provider, Commerce Net Trading International (Commerce NTI), in a deal worth up to £18 million sterling (€30 million).

The cash and stock deal will see Horizon - an Internet services provider itself - pay £4.3 million in cash and a further £13 million in shares subject to Commerce NTI attaining certain performance targets over the next three years.

A further £700,000 payment is contingent on the company meeting performance targets over the following 18 months.

Commerce NTI is an Internet solutions provider with a skills base in e-commerce and online transaction processing.