Infomedia buys UK rival for $AU4.8m
Automotive software specialists merge
ASX listed automotive software developer Infomedi, has snapped up UK based Different Aspect Software for $AU4.8 million (£3,174,000).
Under a share purchase agreement Infomedia has acquired the entire company which provides IT application solutions to the automotive industry, including all intellectual property rights and its contracts.
"Our development teams in Cambridge, Sydney and Melbourne will be working in the coming months to cross-integrate the Different Aspect products and Infomedia's flagship products," said Infomedia's Executive Chairman, Richard Graham
This new asset provides Infomedia with a mature suite of software products which will bolster the existing Infomedia customer base in addition to opening up the door to new markets.
Graham said that the acquisition of DAS supports Infomedia's growth strategy and objective of providing more product depth. DAS founder and MD Jason Thorpe will remain with the company in a leadership role as it extends its products and serves automakers and retail dealers beyond the UK.
"We are confident that the new operational footprint in Europe will deliver synergies that will result in operational cost savings for Infomedia,” Graham added.