Electronic payment platform provider, BPS Technology Ltd
(ASX:BPS), is set to acquire the company which produces ‘The Entertainment Book’.
The Entertainment Book is available in digital and hard copy editions, and provides consumers with special discounts for over 12,000 restaurants and businesses across Australia and New Zealand.
This transaction will be funded from the net proceeds of BPS’s recent $27.5 million capital raising.
BPS will pay $22.5 million in cash, and issue over 2.6 million BPS shares to the acquired company for this acquisition.
BPS reported a net profit of $3.5 million at 31 December 2015.
