Stokes Limited (ASX:SKS) has entered into a binding agreement to acquire a revenue-generating audio visual and telecommunications product business for $330,000 and stock.
The business being acquired has been trading for over 29 years, has revenues of approximately $1.5 million and is currently at break even.
It will give Stokes access to a broader products range and additional customer base that will then be expanded utilising the additional resources of the company.
Last month, the company sold its appliance parts division for $5 million in a transaction that marked its transformation from old world manufacturer to new world technology enterprise.
News: Stokes snags revenue-generating audio visual business
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Last
$2.75 |
Change
0.150(5.77%) |
Mkt cap ! $310.9M | |||
| Open | High | Low | Value | Volume |
| $2.65 | $2.75 | $2.60 | $1.347M | 499.7K |
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| 1 | 500 | $2.74 |
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| SKS (ASX) Chart |