Codan Limited (ASX:CDA) via its subsidiary Domo Broadcast Holdings LLC has finalized a deal to acquire Wave Central LLC, securing 100% of its shares by December 1, 2023. Wave Central, a key North American wireless broadcast equipment integrator, specializes in tailored products for sports, cinema, and broadcasting using Domo Broadcast technology. With Wave Central's founders and management joining Codan's division, Domo Broadcast aims to boost its North American presence.
Codan's strategic move aligns with its growth strategy, leveraging synergies between technologies to expand in military, law enforcement, and broadcast markets. The acquisition involves an initial cash payment of AU$9.1 million, with potential additional payments up to AU$12.2 million based on performance targets over three years, financed through Codan's existing debt facility. This integration is poised to enhance news coverage, sports broadcasting, film production, and remote broadcast solutions globally.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
