Story image

Enprise Group acquires Kiwi software reseller Global Bizpro

09 Feb 2015

Enprise Group has bought MYOB EXO practice Global Bizpro for up to $750,000 including earnouts, in the accounting software reseller first acquisition since it debuted on the NZAX in December.

The Auckland-based company will pay $275,000 in cash and issue 200,000 shares at 50 cents each after settlement for the software service company, which is expected to add $300,000 to annual profit and $1.6 million in revenue, Enprise said in a statement. It will pay a further $375,000 in cash, if the company fulfils financial milestones over the next 12 months.

Under the deal, Enprise will gain 142 GlobalBizpro MYOB EXO customers as well as Global Bizpro support staff and contractors, adding to its Enprise Solutions business, which is a reseller and servicer of the MYOB EXO accounting software. The acquisition comes after it bought Datagate Innovation, a developer of cloud portal software for telecommunications and utility companies, for $120,000 last year.

In December, Enprise narrowed its first-half loss to $79,000, from $110,000 in the same period a year earlier. It didn't announce a dividend, and said it held cash and cash equivalents worth $603,000 at its Sept. 30 balance date, from $665,000 at March 31.

The company debuted on the NZAX via a compliance listing, meaning it raised no cash. Shares of Enprise last traded at 50 cents, unchanged for its listing price, having climbed as high as 60 cents.

Apple's AirPods now come with 'Hey Siri' functionality
The new AirPods come with a standard case or a Wireless Charging Case that holds additional charges for more than 24 hours of listening time.
NZ investment funds throw weight against social media giants
A consortium of NZ funds managing assets worth more than $90m are appealing against Facebook, Twitter, and Google following the Christchurch terror attacks.
Poly appoints new A/NZ managing director, Andy Hurt
“We’re excited to be bringing together two established pioneers in audio and video technology to be moving forward and one business – Poly."
NVIDIA announces Jetson Nano: A US$99 tiny, yet mighty AI computer 
“Jetson Nano makes AI more accessible to everyone, and is supported by the same underlying architecture and software that powers the world's supercomputers.”
Unity and NVIDIA announce real-time ray tracing across industries
For situations that demand maximum photorealism and the highest visual fidelity, ray tracing provides reflections and accurate dynamic computations for global lighting.
Slack doubles down on enterprise key management
EKM adds an extra layer of protection so customers can share conversations, files, and data while still meeting their own risk mitigation requirements.
NVIDIA introduces a new breed of high-performance workstations
“Data science is one of the fastest growing fields of computer science and impacts every industry."
Apple says its new iMacs are "pretty freaking powerful"
The company has chosen the tagline “Pretty. Freaking powerful” as the tagline – and it’s not too hard to see why.