13 May 2021
COMPANY ANNOUNCEMENTS PLATFORM
AUSTRALIAN SECURITIES EXCHANGE
CODAN COMPLETES ACQUISITION OF DOMO TACTICAL COMMUNICATIONS
As previously announced on 16 February 2021, Codan Limited (ASX: "CDA") advised that it had reached agreement to acquire all of the shares in US-based company, Domo Tactical Communications (DTC) from DTC Management Topco, LP, a Delaware limited partnership, being an entity controlled by Marlin Equity Partners.
DTC is an established technology provider for high bandwidth wireless communications with specialist capabilities in MIMO Mesh networks.
This transaction has been successfully completed today.
The total consideration for the acquisition comprised an upfront cash payment of USD$88 million (approximately AUD$114 million), with the possibility of an additional payment of up to USD$16 million if certain earn-out targets are achieved in calendar year 2021.
On behalf of the Board
Michael Barton
Company Secretary
This announcement was authorised by the Board of Directors.
Codan is a technology company that develops robust technology solutions to solve customers' communications, safety, security and productivity problems in some of the harshest environments around the world.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:-
Michael Barton | Kayi Li |
Company Secretary & CFO | Manager, Investor Relations |
Codan Limited | Codan Limited |
(08) 8305 0392 | (08) 8305 0392 |
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Codan Limited published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 22:33:08 UTC.