Freightways acquires Access Information Management
|
|
Freightways Limited (FRE) | 9:42 am, Monday 10 November 2008 | FRE | 3.000 |
 -0.060 |
(-1.96%) |
Freightways Limited (FRE) has extended its presence in the Australian information management market with the purchase of the business and assets of Access Information Management (Access) based in Perth, with immediate effect.
Access operates a document and data storage business in Perth. It will be managed by FRE’s Australian-based DataBank team. This acquisition results in DataBank establishing its own direct presence in the Western Australia market as well as being FRE’s first business in this region.
The purchase price for Access is A$3.5 million. It is expected that Access will generate EBITDA of approximately A$0.6 million in the 12 months following its acquisition.
This acquisition is expected to be immediately EPS (earnings per share) positive.
FRE operates in the express package, business mail and information management markets. The acquisition of Access is consistent with FRE’s strategy to develop growth opportunities that complement its existing operations.
For further information please contact:
Dean Bracewell
Ph: (09) 571-9672 or email: dean.bracewell@freightways.co.nz
Related Attachments
Please login to My NZX to view the attachment(s) for this announcement