Prophecy International Holdings (ASX:PRO) expects to increase its revenue with the acquisition of software company eMite Pty Ltd for $4 million in cash and 6.3 million PRO shares.
Along with the growth of its SNARE software, combined new 2016 revenue is expected to be $20 million with profit before tax of $8.2 million, about double the current expected 2015 result of $9.8 million revenue and $4 million profit before tax.
The eMite product set provides a service intelligence platform which combines analytics, correlations, capacity, performance, availability and SLA management in a single out of the box solution.
Its software can aggregate from any data source, provide multiple service modules for both business and IT and deliver it all via a fantastic end user driven presentation layer.
Its acquisition provides Prophecy with a coherent bolt-on opportunity that will immediately deepen its data management and analytics domain presence.
To assist with funding this transaction, the company has completed a placement of 2.3 million shares with institutions new to Prophecy to raise $2.5 million.
Its new SNARE sales have exceeded 170% growth against the last full financial year.
New SNARE sales are expected to continue to grow in FY2016.
News: Prophecy International Holdings to grow revenue with acquisition
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