Australia's Smart Parking jumps on buying UK business

Smart Parking

09/08/2021 06:05

** Shares of parking tech provider  SPZ.AX  rise as much as
4.6% to A$0.23, their biggest intraday pct gain since July 6
    ** SPZ buys Enterprise Parking Solutions, a UK-based parking
site management business for A$1.54 mln ($1.13 mln)
    ** Deal will be funded from existing cash reserves - SPZ
 urn:newsml:reuters.com:*:nASX79D4jf
    ** Says acquisition to be earnings accretive in first full
year post completion
    ** SPZ stock up 33.3% this year, as of last close
    

($1 = 1.3600 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))