8IH acquires 8 MAD Group

Company News

by Jessica Ellerm

 
8I Holdings Limited (ASX:8IH) has announced it will acquire 8 MAD Group, taking a 51 percent equity stake for RM430,000.
 
8 Mad Group operates a marketing and brand agency as well as an educational training business. 
 
A key term of the agreement is for 8 MAD to achieve a minimum Net Profit After Tax of RM250,000 for every subsequent financial year post FY15.
 
8I Executive Chairman Ken Chee has indicated the acquisition will strengthen the eco-system for the groups platform partners in Asia.
 
8I Holdings Limited reported a net profit of $18.2 million at 31 March 2016.

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