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Connexion Telematics Limited ( (AU:CXZ) ) has issued an update.
Connexion Mobility Ltd has announced a significant investment in Covertrue Group, acquiring a substantial minority shareholding in the company, which owns Liberty Signs, a leading Australian fleet branding business. This strategic move is expected to be immediately accretive to Connexion’s earnings per share and aligns with its goal to maximize shareholder value through diversified and sustainable earnings. The investment in Covertrue, which operates in the growing fleet branding market, allows Connexion to leverage synergies in automation, digitization, and client integration, potentially enhancing its industry positioning and operational capabilities.
More about Connexion Telematics Limited
Connexion Mobility Ltd operates in the telematics industry, focusing on coordinating people, parts, and vehicles. The company is actively seeking to diversify its earnings and mitigate foreign exchange risks through strategic investments.
Average Trading Volume: 674,259
Technical Sentiment Signal: Sell
Current Market Cap: A$20.83M
Find detailed analytics on CXZ stock on TipRanks’ Stock Analysis page.