Latitude Consolidated (ASX:LCD) should trade significantly higher after signing an agreement to acquire Yatango, a consumer services technology company.
Yatango is a consumer technology company founded by Andy Taylor, who is also a founder of SocietyOne, Australia’s first fully compliant peer to peer lender.
Yatango is cloud based software, services and analytics platform that covers a range of everyday lifestyle services.
The company has to date launched two product verticals:
Yatango Mobile, a mobile network provider that puts members in control by allowing them to build their own mobile plan and pay for what they need on a no contract basis; and Yatango Shopping, an e-commerce marketplace that partners with a wide range of sellers to deliver customers better pricing and choice on a wide range of lifestyle products, engineered as a social shopping experience.
Yatango’s current monthly revenue exceeds $1 million from a registered user base of more than 175,000.
Later this year Yatango plans to launch Yatango Money; a consumer based financial services product vertical providing tools for customers to better spend, save, borrow and lend money.
Acquisition terms
Latitude has executed a binding terms sheet to acquire 100% of the issued capital of Yatango subject to the satisfaction of certain conditions precedent.
Consideration is 1.2 billion Latitude shares; 333,333,333 share options with a 3 month expiry and a $0.04 strike price; and 666,666,666 performance rights to key employees and management of Yatango which will convert to shares upon the achievement of the milestones.
- Forums
- ASX - By Stock
- News: Latitude Consolidated to join tech sector with new acquisition
Latitude Consolidated (ASX:LCD) should trade significantly...
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MEK (ASX) to my watchlist
(20min delay)
|
|||||
Last
5.9¢ |
Change
0.003(5.36%) |
Mkt cap ! $85.61M |
Open | High | Low | Value | Volume |
5.8¢ | 5.9¢ | 5.7¢ | $465.3K | 8.004M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 785645 | 5.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.9¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 785645 | 0.056 |
4 | 564043 | 0.055 |
4 | 1020000 | 0.054 |
4 | 334507 | 0.053 |
4 | 382925 | 0.052 |
Price($) | Vol. | No. |
---|---|---|
0.059 | 20000 | 1 |
0.060 | 1581801 | 7 |
0.061 | 192100 | 1 |
0.062 | 187000 | 2 |
0.063 | 415000 | 2 |
Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
Featured News
MEK (ASX) Chart |