Australia's ActivePort jumps on deal to buy Future Broadband

ActivePort

19/04/2022 04:22

** Shares of software company ActivePort Group  ATV.AX  rise
as much as 7.7% to A$0.14, their highest since March 31
    ** Says acquired Future Broadband in a 100% scrip based
acquisition priced at 20 Australian cents per ATV share
    ** Co to integrate Future Broadband's technology into its
Global Edge platform
    ** The combination is expected to deliver enterprise-capable
connectivity at a much lower price than traditional corporate
network services
    ** Deal expected to add A$1.8 million ($1.32 million) in
revenue for FY22
    ** Stock posts its biggest intraday pct gain since April 7
    ** ATV has fallen 21.2% this year, as of last close
    ($1 = 1.3587 Australian dollars)

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com))