ZOO Digital has announced a $15.5m placing to fully fund the acquisition of its Japanese partner. The proposed acquisition is expected to be c.10% earnings accretive in the first full year of ownership (FY25). The Group has also released an FY23 trading update outlining a c.5% revenue miss, but EBITDA is at least in-line and we upgrade +4% to $12.5m (SCMe: $12.0m). Net cash is significantly ahead at $11.8m (SCMe: $8.7m). The proposed acquisition is highly complementary and would consolidate the ....
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