Hummingbird Ltd. announced the acquisition of Valid Information Systems Limited (Valid). Founded in 1989, Valid is a privately held company that is in the compliance and records management market in the United Kingdom. Hummingbird acquired the shares of Valid for initial consideration of British Pounds 10 million (US dollar 16.5 million) in cash and additional consideration of British Pounds 8 million (US dollar 13 million) in cash payable over 2 years, based on performance targets. Valid will operate as a wholly owned subsidiary of Hummingbird, continuing to support and maintain all customer implementations. Hummingbird will continue to sell the Valid products in the UK without interruption. The existing Valid management team and employees will remain with their current responsibilities and positions.