tern plc said wednesday that it has agreed to buy pires investments plc for 149 million pounds 188 million in shares under the deal accepting shareholders of the next generation technologyfocused investment company will get 051613 new tern shares for each share held the deal values each pires share at 80 pence and is a 54 premium to its closing price of 520 pence on tuesday upon completion of the deal pires shareholders will own 2151 of the combined company terns chief executive al sisto said the merger will create a group with larger scale and a more diverse but synergistic network of exciting technology companies