Netlinkz (ASX:NET) enters into an agreement to acquire SSI Pacific

Company News

by Rachael Jones

Netlinkz (ASX:NET) has entered into an agreement to acquire Security Software International (SSI) Pacific.

They are a system integrator specialising in Lawful Intervention and Data Retention system design/development, implementation and maintenance/support solutions.

SSI is based in Melbourne, has been in business since May 2009.

Netlinkz will fund the acquisition partly through debt and partly through its financing facilities.

The acquisition price is $10.2 million with 80 per cent payable on 30 November 2019 and the balance payable over the next 2 years.

Shares in Netlinkz (ASX:NET) are trading 0.7 per cent lower at $35.16.

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.