Newly listed EN1 initiates acquisition strategy to accelerate growth
Published 15-JAN-2018 11:52 A.M.
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2 minute read
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Los Angeles-based digital advertising and media technology company, engage:BDR (ASX:EN1), has today revealed that it has now actioned its previously foreshadowed acquisition strategy.
Following its successful listing on the ASX in December last year, EN1 is now in a position to accelerate its organic growth through the strategic acquisition of a number of companies it has worked with previously in the ad-tech, mar-tech and social influencer space.
EN1 said it is currently undertaking due diligence on a number of strategically valuable companies, two of which are Australian. One is operating in the adtech space, and the other in the social influencer segment.
The first of these proposed acquisitions should be announced before the end of March this year.
EN1’s acquisition strategy focuses on proven and compelling companies with strong financials, well-honed technology, and a large or rapidly growing user base. The companies under consideration have revenues and are either already profitable or show significant earning potential. Moreover, all of the companies that EN1 is actively considering are able to be acquired at reasonable revenue when compared with their listed peers.
It should be noted that EN1 is in the early stages of this strategy and investors should seek professional financial advice if considering this stock for their portfolio.
EN1 completed its first acquisition in mid-2016 – this was the video platform, myDiveo. EN1 was forced to temporarily halt further acquisitions during the IPO process, but has now reactivated its previous acquisition plan with companies that are keen to be part of the engage:BDR group.
EN1 executive chairman, Ted Dhanik, said: “We are very pleased, having successfully completed our IPO on the ASX, to now be in a position to re-commence negotiations with the various companies with whom we have long been in discussions about acquiring.
“One of engage:BDR’s primary motivations for listing on the ASX was to gain the currency and capital required to execute this strategy and it is great to see that the wheels are now well and truly in motion.
“We look forward to further updating the market as soon as the negotiations reach a sufficiently advanced stage,” Dhanik said.
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