Energy company HRL Holdings
(ASX:HRL) has completed its purchase of Integrated Holdings Group Pty Ltd, the holding entity of OCTFOLIO Pty Ltd.
$3.5 million is the maximum purchase price – with $2.75 million to be paid on completion, plus an additional sum of up to $750,000 (depending on OCTFOLIO’s financial performance).
OCTFOLIO is an Australian specialised software vendor with a focus on information management software solutions for asbestos and hazardous materials. It also hosts HAZMAT compliance data and registers – with clients including Adelaide City Council and the Tasmanian Department of Health.
HRL says this acquisition will bring strategic benefits. For example, this deal will allow HRL to secure large facility operator contracts, and give it access to new clients (to which HRL will directly market its other field services).
This morning, HRL shares are trading steady at 10 cents.
