Australia-based Motio hits over 1-month high on acquisition of Swift's unit

Motio

31/03/2021 02:10

** Australia-based digital marketing and media company Motio
Ltd  MXO.AX  gains as much as 9.5% to A$0.115, its highest since
Feb. 25
    ** Co says it bought Medical Channel Pty Ltd from specialist
technology company from Swift Media  SW1.AX   urn:newsml:reuters.com:*:nASX4RYPqz
    ** Says acquisition pivotal in its strategy towards
leadership in the digital place-Based & location intelligence
media sector, specialising in the health & wellbeing category
    ** Says move set to transform Motio's health network,
increasing its existing footprint by over five times
    ** MXO to issue 30 mln shares at an issue price of A$0.10
per share to Swift under consideration
    ** Stock posts its biggest intraday percentage gain since
March 22
    ** About 542,000 shares change hands, compared with the
30-day average volume of 495,000 shares
    ** MXO had risen 29.6% this year, as of last close

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))