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Connexion Telematics Limited ( (AU:CXZ) ) has provided an announcement.
Connexion Mobility Ltd has agreed to acquire 100% of the assets of Hallam Road Automotive, a premier automotive service and repair centre in Melbourne’s south-east, for up to A$5 million, funded through existing cash and a new A$2.5 million debt facility with National Australia Bank. The deal, which includes a 12‑month consultancy from HRA’s founder to ensure operational continuity, is intended to add AUD‑denominated earnings, immediately lift earnings per share by an estimated 25–35% and diversify revenue.
Management positions the acquisition as a key step in shifting capital from lower-yielding financial investments into operating assets that better align with its strategic focus on software, automotive and fleet management. By adding a resilient, necessity-driven automotive aftermarket platform in a growing independent service and repair segment, Connexion aims to reduce its exposure to AUD/USD foreign exchange risk, improve earnings sustainability and create a base for further organic and inorganic expansion in the automotive services value chain.
More about Connexion Telematics Limited
Connexion Mobility Ltd is an Australia-based company operating at the intersection of software, automotive and fleet management, with a focus on leveraging technology to serve automotive and mobility markets. The business has historically generated U.S. dollar–denominated earnings and holds a mix of cash, managed funds and strategic equity investments, which it is now seeking to redeploy into operating assets.
Average Trading Volume: 2,192,849
Technical Sentiment Signal: Sell
Current Market Cap: A$16.04M
See more data about CXZ stock on TipRanks’ Stock Analysis page.