Australia's Frugl rises on acquisition of software engineering firm

Infocus group

03/10/2024 02:30

** Shares of Frugl  FGL.AX  rise as much as 6.7% to A$0.016,
set to gain most since Sept. 20 - if current gains hold
    ** Retail intelligence firm acquires Prodigy9,
Thailand-based software engineering consultancy which
specialises in the development of data analytics platforms,
especially for retail sector
    ** Adds, acquisition price is 10 million Frugl shares plus
performance-based incentives
    ** Stock is down over 86% YTD as of 0125 GMT

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))