Electronic document management company Solution Dynamics is buying digital marketing material storage and management company Bremy in a $796,383 deal.Solution Dynamics said the deal was being paid for by the issue of 1.35 million of its shares at 43c each
Electronic document management company Solution Dynamics is buying digital marketing material storage and management company Bremy in a $796,383 deal.
Solution Dynamics said the deal was being paid for by the issue of 1.35 million of its shares at 43c each, and the transfer of $214,693 debt from Bremy.
The shares being issued would account for 12 percent of those on issue after the acquisition, which was expected to become unconditional on January 21.
Bremy should immediately be ebitda (earnings before interest, tax, depreciation and amortisation) neutral to Solution Dynamic's existing shareholders, Solution Dynamics said.
The deal would also reduce development costs Solution Dynamics expected to incur in an application for a large client.
Bremy owner Manuel Schamroth is to join Solution Dynamics as chief technology officer.
