EPX acquisition of Coda Cloud technology assets

EP&T Global Limited (ASX:EPX) has entered into a binding agreement to acquire United Kingdom based, Coda Cloud Limited's technology and business assets. The acquisition highlights include expansion opportunities in the UK and Europe, enhanced technology capability in fault detection and control, and an attractive acquisition multiple at less than 1.0x. The upfront consideration for the acquisition is £120,000, comprising 50% in cash and 50% in shares, with a total of 3,565,062 shares to be issued.

Executive Commentary on Coda Cloud acquisition

This is an exciting opportunity to expand EP&T into a key market vertical in the United Kingdom. We are grateful to the original owners of Coda who invested considerable effort in developing a globally relevant technology within a rapidly growing vertical driven by high energy consumption. The opportunity to integrate the technology in EP&T's existing platform and scale it further is incredibly promising. EP&T has transformed financially over the last 18 months, to allow it to position itself as an operationally sustainable business investing for growth. Opportunities such as Coda, to expand EP&T's reach in attractive locations such the UK and EU, are emerging, and I believe EP&T is well placed to pursue such opportunities and drive value for shareholders.

Summary of EPX acquisition of Coda Cloud technology assets

EP&T Global Limited (ASX:EPX) has announced the acquisition of Coda Cloud Limited's technology and business assets, marking an expansion into the industrial property market in the UK and Europe. The acquisition aims to leverage Coda's technology to service industrial property owners, such as transport assets, telecommunication, and data center owners. With the upfront consideration of £120,000 and additional contingent performance-based payments, EP&T is strategically positioned to integrate and capitalize on this acquisition. The CEO, John Balassis, expressed excitement about the opportunity and highlighted EP&T's financial transformation, positioning the company for sustainable growth. The acquisition presents a promising prospect for EP&T to drive value for its shareholders and expand its reach in attractive locations like the UK and EU.