Condat Wins $1.5 Million Deal with Major German Media Company
Sydney, Nov 18, 2015 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") is pleased to announce that Berlin-based Condat AG, which Invigor proposes to acquire subject to certain conditions precedent, including shareholder approval, is a member of a consortium which has won a major contract with a major German public service television broadcaster.
Highlights:
- Condat to supply its smart media solutions to a major German media company as part of a consortium
- Further grows Condat's partnerships with major European media groups
- Underpins revenue and EBITDA for FY16
- Invigor shareholders to vote on proposed acquisition of Condat on 1 December 2015
The project will generate EUR1 million (A$1.5 million) revenue for Condat over 14 months with the opportunity to supply further solutions in due course.
Software solutions business Condat is the major provider of smart media solutions to public broadcasters in Germany and has projected revenue of approximately $7.5m for 2016 with an operating EBITDA margin expected to exceed 15 per cent. Invigor has proposed to acquire all issued shares of Condat, with shareholders to vote on the proposal at an Extraordinary General Meeting to be held on 1 December 2015.
Invigor's Chairman and CEO Mr Gary Cohen said: "This is exciting news for Invigor as the deal has the potential to add significantly to Condat's income stream and it further demonstrates Condat's ability to build strong relationships with partners in Germany and elsewhere in Europe. The win also adds significant confidence to Invigor to deliver strong revenue and profit growth over the next year."
Invigor's securities will now be released from trading halt.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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