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.