Freightways buys Dataprint for up to $6.5 million

Freightways, the NZX listed courier and data management company, has purchased printing and data management firm Dataprint NZ Limited for up to $6.5 million.

Dataprint will operate as a stand-alone business alongside Freightways DX Mail business. The initial purchase price was $3 million, with a further $3.5 million paid over the next three years, subject to performance targets.

"The acquisition of Dataprint is consistent with Freightways’ strategy to develop growth opportunities that complement its existing operations," Dean Bracewell, managing director, said in a statement. "This acquisition is expected to be immediately earnings-per-share positive and it will be fully debt-funded from headroom available in Freightways’ existing finance facilities."

Dataprint's forecast revenue is $6 million and earnings before interest, tax, depreciation and amortisation of $1 million in Freightways first full year of ownership.

Shares in Freightways rose 0.8 percent to $3.83 and have gained 3.3 percent this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Freightways meets guidance with 6 percent gain in profit before items, sees similar 2014 growth
Freightways profit to increase 6 percent in 2013 and 2014, lagging expectations; shares drop
Freightways 1H profit rises 11 percent to record, meeting estimates, see slow growth ahead
Freightways lifts September quarter profit by 14 percent
Freightways beats estimates gain 24% in FY profit, sees growth in 2013
Freightways first-half profit jumps 20%, lifts dividend
Freightways continues buy-up of info management firms with Australian acquisition
Freightways
Freightways reports strong first quarter, seeks directors' fee hike
Freightways' directors seek 29% pay rise, first increase in four years