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An announcement from Felix Group Holdings Ltd. ( (AU:FLX) ) is now available.
Felix Group Holdings Ltd has announced the acquisition of Nexvia, a Brisbane-based SaaS platform, to accelerate its vendor monetisation strategy. This acquisition is expected to significantly enhance Felix’s platform by integrating Nexvia’s project and business management tools, thereby expanding its market reach and improving operational efficiency for SMEs in the construction sector. The acquisition is valued at $12 million and is funded through a combination of cash, shares, and performance rights. It is anticipated to increase Felix’s annual recurring revenue by 38% and strengthen its position as a leading digital platform for contracting and asset-owner enterprises.
More about Felix Group Holdings Ltd.
Felix Group Holdings Ltd operates in the construction industry, providing an enterprise procurement platform that focuses on vendor monetisation. The company serves a large vendor marketplace and aims to enhance its offerings through strategic acquisitions.
Average Trading Volume: 59,014
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$45.19M
For an in-depth examination of FLX stock, go to TipRanks’ Overview page.