Australia's Verbrec hits over 4-year high after acquiring automation firm

Verbrec

05/11/2025 03:06

** Shares of Australia's Verbrec VBC.AX rise as much as 56.5% to A$0.18, their highest level since July 22, 2021

** Stock set for best session ever

** Diversified service provider says it will buy Alliance Automation and its unit DLM Automation from Telstra TLS.AX for A$5.5 mln ($3.57 mln)

** Alliance Automation is an independent provider of digital transformation, cyber security and industrial automation integration services

** Says transaction anticipated to add over A$60 mln in annualised revenue

** About 1.5 mln shares change hands, 7.1x the 30-day average

** Stock last up ~17%, flat YTD

($1 = 1.5389 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))