Company Name: Star Payment Systems
Announcement Date: 02/05/2017
Announcement Category: Merger/acquisition
Announcement Content:
ASX listed financial payments player Stargroup, has easily tapped its shareholders for $3.35m to fund the strategic acquisition of ATM machine service provider Indue.
Perth-based Stargroup said on Monday that the 119 million new shares, priced at $0.028 per share, would go to numerous existing shareholders as well as new high net worth and institutional investors.
In an update to the market, Stargroup said the funds raised would be used to finalise the much-anticipated acquisition of Indue, which management expects will result in a $4.1 million boost to group revenues and an EBITDA lift of $1.7m annually.
Announcement URL: https://www.businessnews.com.au/article/Stargroup-raises-335m-to-complete-Indue-acquisition
About Star Payment Systems:
Financial technology company Stargroup Limited is the only ASX listed company deploying ATM machines in Australia and importantly, the only listed ATM company having a direct ownership interest in the manufacturer of its ATM technologies, namely NeoICP, a South Korean private company.
Stargroup Limited became the exclusive distributor of the cashPod ATM range including the recycler ATM, back office and payment technologies in Australia for the next 5 years on 7 August 2015.
Stargroup Limited, via its wholly owned subsidiaries, StarPOS and StarApps, is also an EFTPOS and payWave technologies provider and developer of the source code in its terminals via its 5 year distribution agreement with West International AB, a Swedish NASDAQ listed company, to distribute next generation EFTPOS payment terminals and solutions in Australian and New Zealand.
Go to Company Profile for: Star Payment Systems
Announcement Contact: [email protected]
