QANTM confirms takeover offer from UK-based IP firm Rouse
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The news: QANTM Intellectual Property has received a non-binding indicative takeover proposal by UK-based international intellectual property firm Rouse International Holdings.
The numbers: ASX-listed QANTM operates in five markets including Australia, New Zealand, Singapore, Malaysia and Hong Kong.
Early this month, QANTM posted a total net revenue increase of 8.7% to $58.8 million for the first half of the financial year. Its EBITDA rose 25.7% to $17.3 million, while statutory net profit surged 117.2% to $7.4 million.
Rouse operates in 12 jurisdictions and has a significant presence in Asia including China, Cambodia, Indonesia, Myanmar, Philippines, Thailand and Vietnam. It also has a presence in Africa, Saudi Arabia, Sweden, UAE, and the UK.
The context: QANTM’s announcement followed reports from the Australian Financial Review on the potential acquisition.
QANTM said its board had agreed, at Rouse’s request, to conduct due diligence with a view of putting forward a binding offer capable of being considered by shareholders.
It noted that there was no certainty that a transaction would eventuate.
The source: ASX announcement
