Sydney, Australia, Feb 8, 2016 - (ABN Newswire) - Leading big data solutions company Invigor Group Limited (ASX:IVO) ("Invigor") has signed an agreement to acquire the worldwide and perpetual licence rights for a mobility application which it has been developing since 2014 for The Australian Traffic Network ("ATN").
Consideration has been satisfied by Invigor issuing 5,200,000 fully paid ordinary shares ("Consideration Securities") The Consideration Securities are deemed to have been issued at the prevailing market price of 5.6 cents per share ($291,200). A portion of the Consideration Securities will be held in escrow for up to six months from completion ("Escrow Period").
The acquisition will allow Invigor to incorporate the technology with products of the mobility division of Condat which was acquired in December 2015.
About Invigor Group Ltd:
Invigor Group (ASX:IVO) (OTCMKTS:HYROF) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers. Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money. Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
Contact:
Gary Cohen
Chairman & CEO
+61 2 8251 9600
gary.cohen@invigorgroup.com
Matthew Wright
NWR Communications
+61 451 896 420
matt@nwrcommunications.com.au
Source:
Invigor Group Ltd
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