Audience Analytics Acquires 30% of VeecoTech for S$1.63M in Shares, Eyes Majority Stake with Call Option
Summary:
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Audience Analytics’ unit, Business Media International, signed a deal to acquire 30% of VeecoTech Holdings for up to RM5.39 million (S$1.63 million).
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Payment will be via issuance of up to 5.4 million new shares at S$0.30 each, reflecting a 9.1% discount to last traded VWAP (S$0.33).
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Structured in three performance-linked tranches, the initial 50% to be paid immediately in shares, with the rest tied to VeecoTech’s subsidiaries achieving targets over the next two years.
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VeecoTech, with RM7.14 million net assets (S$2.17 million) and RM3.45 million pre-tax profit (S$1.0 million) in 2024, strengthens Audience Analytics’ push into AI, web and IoT tech solutions.
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Acquisition expected to lift FY2024 pro forma EPS from 2.63 to 2.67 Singapore cents, and profit from S$5.97 million to S$6.21 million.
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Agreement includes a call option to buy up to an additional 21%, potentially raising Audience Analytics’ stake to 51%.
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Leadership highlighted synergies to drive digital transformation, expand markets, and create long-term shareholder value.