Originally posted by bentas74
SUMMARY
● Buddy to acquire leading smart lighting technology company, LIFX, subject to the completion of acquisition financing and Buddy obtaining all requisite shareholder approvals (together with satisfaction of various other conditions precedent)
● LIFX generated A$38.5M (unaudited) in revenues in CY2018, with -A$3.4M in EBITDA and gross margins of 29%
● The acquisition will be revenue and earnings accretive for Buddy, with LIFX expected to reach profitability in CY2019
● Since 2015, LIFX has sold nearly two million lights in over a hundred countries with revenues growing between 70% and 100% year on year
● The acquisition will bring a globally deployed energy and sensing platform in LIFX’s lights to Buddy’s Ohm energy monitoring product, while bringing Buddy Ohm’s energy monitoring platform to LIFX’s smart lighting products
● LIFX’s Chief Technology and Product Officer, Marc Alexander will join the Buddy Board of Directors following completion of the acquisition
● Strongly supported placement to raise A$18.1M at an issue price of A$0.08 per Share to partially fund the cash portion of the consideration.
THIS IS MY FAVOURITE
POTENTIAL 250 MILLION OVER THE NEXT 3 YEARS
Isn't it strange the same people whinging about bud are also anti LIFX but still hold , yet they want instant results within 2 weeks of the acquistion announcement . You all had ample time to sell out
What about Ohm sales.......where are they????
Remember the comments made over the past 2 4C reports.........."we have sold more ohm's this qtr than ever before!"
This was total BS!!!
