News and Announcements
Bulletproof to Acquire Cloud House
- Published February 01, 2016 12:18PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
1st February 2016, ASX Announcement
International Acquisition: Leader in NZ Cloud Services
- Bulletproof to acquire Cloud House, New Zealand-based Cloud Services business:
- Purchase price NZ$1.0m cash upfront, plus up to NZ$4.2m payable based on performance
- EPS accretive deal represents an initial payment of c.2x run-rate EBITDA
- Cloud House employees to transition to Bulletproof
Bulletproof (ASX:BPF) is pleased to announce it has agreed to acquire the business assets of Cloud House Limited, the leading Cloud Services company in New Zealand, with offices in Auckland and Wellington. New Zealand’s largest AWS Advanced Consulting partner, Cloud House provides consulting, billing and managed services for its customers on their journey to the cloud.
Bulletproof has agreed to pay NZ$1m to purchase the business assets of Cloud House from existing cash reserves, bringing approximately NZ$3.5m annualised revenues, with around NZ$500kof current run-rate EBITDA to the Company.
To read the full announcement, please click here.
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