Codan (ASX:CDA) completes $114m acquistion of Domo Tactical Communications

Company News

by Melissa Darmawan

Metal detection and mining technology company Codan (ASX:CDA) has completed its $114 million acquisition of US-based company, Domo Tactical Communications.

This follows the news last Friday of the company completing their acquisition of US-based mission critical communication company Zetron for $59 million.

As part of their strategy to fill a technology gap, Codan acquired Domo Tactical Communication to transition their voice-only platform to enhance with video communication capabilities.

The company saw its highest ever half year results with a 36 per cent climb in their net profit after tax of $41.3 million following its strong demand for metal detectors across their gold and recreational markets.

Shares in Codan (ASX:CDA) are trading 0.59 per cent higher $16.94