LiveTiles Limited (ASX: LVT) has announced an acquisition of a leading intelligent intranet provider – CYCL AG. The target company has a leading market position in Switzerland and Germany as well as presence in the US.
- This acquisition would create an enhance Intelligent Workplace offering and will create greater enterprise opportunities;
- The acquisition will expand addressable market of LVT;
- Total consideration for the acquisition is $19 million comprising $6.3 million cash and $12.6 million in stock.
By 1:25 PM AEST, LVT was trading at $0.315, down by 3.1% relative to the previous close.
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