Site Group set to buy Innovium

Company News

Site Group International Limited (ASX:SIT) is set to acquire the registered training company Innovium Pty Ltd. 
The vocational training company says Innovium, which trades as Business Productivity Institute, earned an unaudited EBITDA of $210,000 in FY15.
The company says it will provide further product capability and management expertise and is immediately earnings accretive.
The deal will involve a consideration of both equity and cash with all equity in escrow for 12 and 24 months from issue.
Site Group reported a net profit of $161,000 in the first half of the 2015 financial year.

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