Jumbo Corp to buy software distributor 12:17, Monday, June 25, 2007
Sydney - Monday - June 25: (RWE Australian Business News) - Jumbo Corporation Ltd (ASX code: JUM) has entered a conditional heads of agreement to acquire Manaccom, a specialist software publishing and distribution business with contracts to supply major retail chains including Harvey Norman, D Smith, JB Hi-Fi and Officeworks. Purchase consideration is $5.1 million, comprising $2.5 million cash on settlement (bank finance) and 80 million Jumbo shares at 3.25c. Manaccom was named in the BRW Fast 100 list and distributes a range of computer software including Trend Micro PC-cillin Internet Security and children's online protection software Net Nanny. Highlights of Manaccom's accounts for the year to June 30 2006: * $11 million in revenue; and * $1.6 million in EBITDA. Results for the 2007 year are forecast to exceed these results.
JUM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held