Damstra Holdings Ltd (ASX:DTC) has successfully implemented a scheme of arrangement related to the acquisition of all the issued capital in Vault Intelligence Ltd (ASX:VLT).
The acquisition marks a major milestone in continued implementation of the growth strategy for Damstra, an Australian-based provider of integrated workplace management solutions.
Accelerate international expansion.[hhmc]
Damstra CEO and managing director Christian Damstra said: “Our organic growth outlook remains strong but an acquisition such as Vault represents a low risk and transformational step to gain increased scale and diversification.
“These and other benefits will allow Damstra to accelerate innovation and our international expansion.
“A great example of the complementary fit and cross-selling opportunity will be the inclusion of Vault remote tracking and lone worker products such as Solo in the Damstra product module.
“We have a clear implementation plan and pathway forward, and Damstra has demonstrated a strong track record in successfully integrating its acquisitions.
“Damstra will provide further updates on the integration process in its upcoming 4C due to be released before the end of October and then also the AGM which is scheduled for November 16.”
Global technology success story[hhmc]
Damstra executive chairman Johannes Risseeuw said: “Since we listed on the ASX in October last year, Damstra has continued to deliver on its vision to create a truly great Australian global technology success story.
“Our solutions reduce and manage workplace risks for clients across sectors including mining, construction and engineering.
“Among the benefits of the combination, the merged group will be able to accelerate product innovation, including fever detection, facial recognition, remote, mobile and lone workforce solutions.
“An expanded Damstra offering is expected to fast-track growth, including the ability to cross-sell products across respective client bases, within Australia and New Zealand but also in international markets, particularly North America and now South East Asia.”
Scheme of arrangement[hhmc]
As a part of the scheme ofRead More – Source
[contf]
[contfnew]
Proactiveinvestors
[contfnewc]
[contfnewc]
