eBet Limited completes acquisition of business intelligence tool provider CDOL
Tuesday, April 08, 2014 by Proactive Investors
eBet Limited completes acquisition of business intelligence tool provider CDOL
eBet Limited (ASX: EBT) has completed the acquisition of web-based business intelligence tools provider CDOL for an initial payment of $350,000. The acquisition also includes up to $350,000 in earn-out payments over three years, subject to certain specified sales hurdles being achieved. eBet expects the acquisition to result in annualised synergy benefits of $700,000 from direct cost savings. These benefits are expected to drive an increase in net profit before tax from a break even position to between $400,000 and $500,000. This represents a return on investment of between 114% to 140% and is earnings accretive within the first full year post acquisition. CDOL assists venues to optimise their operations through the storing, analysing and reporting of internal financial, gaming, membership and marketing data. eBet will offer CDOL's business intelligence tools across its existing and prospective client base.
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