Software solutions provider Infomedia (ASX:IFM)
has finalised the purchase of US-domiciled e-commerce specialist SimplePart
SimplePart is a system operator in digital aftersales providing online parts, accessories and service e-commerce solutions to enable automakers and dealers to sell directly to consumers.
SimplePart reported a US$10 million revenue in the 12 months to 31 March 2021 and is expected to achieve low double digit growth rates in calendar years 2021 and 2022 before synergies.
The acquisition of SimplePart offers Infomedia an opportunity to expand market reach in the US and ramp up the company’s footprint in the American continent.
Infomedia welcomed the integration of the Simplepart into the group, “We are delighted to officially welcome SimplePart into the Infomedia family. Our respective teams have started to engage and identify opportunities to leverage existing relationships in the Americas and elsewhere”.
Infomedia vindicated the transaction by highlighting the complementary technologies and assets SimplePart’s core business promises to bring to the broader structure of the buyer.
The $509 million commented on the significance of the purchase, “SimplePart is a strategic extension of Infomedia’s core global offering and uniquely positions us to offer our customers an expanded range of market leading business-to-business and business-to-consumer parts, service and data insights solutions.”
Shares in Infomedia (ASX:IFM)
are trading 13.1 per cent higher $1.53