Australia's Diverger rises most in 5 months on buying tech services firm

Diverger

17/01/2023 01:07

** Shares of Diverger Limited  DVR.AX  rise as much as 10%
to A$1.045, their best intraday rise since Aug. 11, 2022
    ** Wealth management firm says it acquired Priority
Networking Pty Ltd, a technology services firm for initial
purchase consideration of A$2.25 million ($1.57 million)
    ** Deal expected to add to earnings from FY23, targeted
revenue synergies to begin in the first year of acquisition 
    ** Trading volumes cross thrice the 30-day average, with
nearly 57,000 shares traded so far
    ** Stock hits highest level since Nov. 25, 2022
    ** YTD, stock is down 2.6% as of last close 
($1 = 1.4351 Australian dollars)
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))