Online video technology company, Big Un Ltd
(ASX:BIG), has signed a Share Purchase Agreement to acquire BHA Media Pty Ltd – which is the beauty, hair and aesthetics subsidiary of the Intermedia Group. Big Un says completion of this transaction will occur on 31 March 2017.
The Intermedia Group will receive 3.26 million shares in Big Un at completion, with a further 3.26 million to be issued if BHA Media achieves $3 million in advertising revenue this year.
Big Un also says the acquisition will give it ownership of a database containing 36,000 Australian small-medium enterprise subscribers who operate in the hair, beauty and aesthetics industries.
The company will also own hair and beauty brands Styleicons, Instyle, Professional Beauty and Spa and Clinic.
This morning, Big Un shares are trading 3.6% lower at 40 cents.
