Highlights:
- Inabox to acquire the business of Anittel Group Limited
- Purchase price comprises 6,153,846 new Inabox shares, $500,000 in cash and $1.5m of deferred, conditional cash consideration. Based upon IAB’s last closing share price of $1.28, the total consideration would be approximately $9.88m
- Creates an end-to-end provider of ICT services, positioning Inabox as a strong challenger in the converged ICT and cloud markets
- Significantly broadens Inabox’s corporate and government customer base
- Transaction is subject to the approval of the shareholders of Inabox and Anittel as well as other conditions precedent
Australian listed telecommunications company, Inabox Group Limited (“Inabox” or the “Company”) announced today that it has agreed to acquire the business of leading regional and metropolitan IT and cloud services provider Anittel Group Limited (“Anittel”).
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