OpenDNA Wrapped Up Key Acquisitions: What Market Players Need To Know

  • Dec 21, 2018 AEDT
  • Team Kalkine
OpenDNA Wrapped Up Key Acquisitions: What Market Players Need To Know
On December 21, 2018, OpenDNA Limited (ASX: OPN) came forward and made an announcement related to the two acquisitions with the help of press release. As per the press release published, OpenDNA wrapped up the acquisitions of RooLife Limited as well as CHOOSE Digital Pty Limited. The press release had also stated that the businesses which have been acquired by the company would be helping OpenDNA in terms of the revenues. The artificial intelligence system or AIS of OpenDNA would be improving the abilities of core offerings of RooLife as well as CHOOSE Digital. The Artificial Intelligence System of OpenDNA, when applied on the businesses which have been acquired, would also be helping OpenDNA in terms of giving the exposure with regards to customer industry sectors. The application of AIS in the acquired businesses would also provide the company an opportunity to enter the Chinese market.    Since the acquisitions of RooLife as well as CHOOSE Digital has been done, the press release also stated that disbursement of $200,000 in cash had been done to acquisition vendors and these vendors had also been given around 15.24 million ordinary shares (fully paid) in the company on the aggregate basis. In the same press release, OpenDNA Limited had also announced about the changes in the board as well as management. Mr. Warren Barry has been appointed as the executive sales director and has been placed on the Board of OpenDNA. However, Mr. Bryan Carr had been designated as CEO or chief executing officer at OpenDNA as Mr. Jay Shah had stepped aside from his current designation of CEO as well as Managing Director. Mr. Jay Shah is now the company’s Non-executive director. Hence, the board of OpenDNA Limited now consists of Mr. Evan Cross as a Non-Executive Director, Mr. Warren Barry as a new executive sales director, Mr. Jay Shah, as stated earlier, as Non-Executive Director and Mr. Grant Pestell as Non-Executive Chairman. Let us have a look at how the stock of OpenDNA has performed. On December 21, 2018, the company ended the session on a positive note. The stock price of OPN settled at A$0.034 per share which implies the rise of A$0.001 per share or 3.03%. The market capitalisation of OpenDNA stood at $6.14 million. However, the stock price of the company is trading towards the lower level. The stock has delivered the return of -19.51% in the span of previous six months. However, in the past one month, the stock has delivered 13.79% return.


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