Hubify Limited (ASX:HFY) acquired Managed Services and Telco Business of Managed Services and Telco Business of Connected Intelligence for AUD 3 million on April 1, 2022. The business will be acquired for AUD 3 million, implying a 3.4x EBITDA acquisition multiple, and will be funded by an up-front cash payment of AUD 1.7m and a 2-year deferred payment comprising 50% cash and 50% HFY Shares. The deferred payment of AUD 1.3 million includes an earn out component based on performance criteria weighted mainly on retention of customers. Connected Intelligence reported revenue of AUD 2.6 million. The acquisition will be highly earnings accretive for HFY.

Hubify Limited (ASX:HFY) completed the acquisition of Managed Services and Telco Business of Managed Services and Telco Business of Connected Intelligence on April 1, 2022.