iTWire - Nexion to acquire Aiscorp and Silicon
Summary
Nexion says Aiscorp and Silicon’s expertise and local knowledge combined with their blue chip enterprise-scale client base sets a foundation to deliver rapid growth and strong profit for the group. “I’m extremely excited to have Aiscorp and Silicon join us on our journey to become a global hybrid cloud operator. “Nexion has a vision to deliver services in eight global regions and the completion of these acquisitions sets the foundation for our second region called Nexion Pacific that spans the East coast of Australia to the West coast of North America. Our next step is Canada so a base in Wellington makes acquisitions and growth into that time-zone much more efficient.” According to reports, the acquisitions would include paying minimum shares calculated at 1.1 times the FY22 revenue divided by 20 cents per share. The acquisition is subject to conditions including due diligence, regulatory approvals, and with the company raising at least $7.2 million cash via debt or equity.
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