Ambertech Limited (ASX:AMO) agreed to acquire Connected Media Australia for AUD 1.1 million net of cash on November 2, 2021. Ambertech and CMA believe that the sale will bring several benefits to dealers and suppliers, resulting from Ambertech's market presence and resources. Initially, the brands represented by CMA will continue to be sold and supported through the existing CMA systems and processes.

The acquisition, which is subject to certain conditions, is expected to complete by November 15, 2021. Both are expected to be earnings per share accretive and have been funded by existing cash reserves.