Freightways buys Dataprint for up to $6.5 million
Dataprint will operate as a stand-alone business alongside Freightways DX Mail business.
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BUSINESSDESK: Freightways, the NZX listed courier and data management company, has bought printing and data management firm Dataprint NZ for up to $6.5 million.
Dataprint will operate as a stand-alone business alongside Freightways DX Mail business.
The initial purchase price was $3 million, with a further $3.5 million paid over the next three years, subject to performance targets.
"The acquisition of Dataprint is consistent with Freightways’ strategy to develop growth opportunities that complement its existing operations," managing director Dean Bracewell said.
"This acquisition is expected to be immediately earnings-per-share positive and it will be fully debt funded from headroom available in Freightways’ existing finance facilities."
Dataprint's forecast revenue is $6 million and earnings before interest, tax, depreciation and amortisation of $1 million in Freightways first full year of ownership.
Shares in Freightways rose 0.8% to $3.83 and have gained 3.3S this year.
Hannah Lynch
Mon, 02 Jul 2012
Mon, 02 Jul 2012
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Freightways buys Dataprint for up to $6.5 million
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