Mitula Group Limited
(ASX:MUA) has announced it has expanded its fashion presence, by acquiring Dutch based fashion vertical search specialist, Kleding BV.
Kleding BV owns 16 fashion search websites in the Netherlands, Europe and Australia.
Mitual Group bought the company for $13.7 million cash and 1 million Mitula Group Limited
(ASX:MUA) shares. Additional payments may however need to be met, if revenue and EBITDA targets are met.
The sites aggregate more than 18 million products, from over 1,000 online clothing, shoes and accessories stores.
Mitula Group Limited
(ASX:MUA) last reported a net profit of $8.2 million after tax for the full 2016 year.
