logo-loader

Stargroup makes Indue acquisition part payment

Published: 01:30 11 Apr 2017 BST

acquisition-350
Recently, Stargroup posted its 13th consecutive quarter of record revenue

Stargroup (ASX:STL) has paid $2.6 million to Indue Limited as part of the ongoing acquisition process.

The payment was required to be made on or before 14 April 2017 and the balance of the consideration is due and payable on or before 28 April 2017.

Stargroup is a dual listed technology company that owns a 350+ ATM network in Australia and provides EFTPOS and payWave technologies, and has a 11% interest in NeoICP Korea Inc, the manufacturer of cashPod ATMs, back office and casino settlement solutions.

Stargroup is acquiring Indue’s automatic teller machine (ATM) switching, settlement, processing, telecommunications and reseller business.

Most recently, Stargroup posted its 13th record quarter of revenue surpassing $2.5 million for the March quarter.

This represents a 133% increase in 2017 Q3 total revenue compared to 2016 Q3 total revenue.

It also cements a 296% improvement in 2017 year to date total revenue compared to 2016 year to date total revenue.

Stargroup expects the Indue acquisition to further drive revenues moving forward estimating future revenues in the next quarter will be up a further 27% as a result.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

2 hours, 43 minutes ago