Ambertech Limited (ASX:AMO) reached an agreement to acquire the distribution business from Convoy International Pty Ltd for AUD 3 million on January 11, 2023. Consideration for the acquisition is anticipated to be, net cash, in the order of AUD 2.8 million - AUD 3 million, and includes: Inventory and accounts receivable dependent on valuation at settlement; Business use assets; and Goodwill of around AUD 0.5 million, subject to final valuation. Funding for the acquisition is by way of existing cash reserves. Completion of this transaction is expected to be on or about January 31, 2023.

Ambertech Limited (ASX:AMO) completed the acquisition of the distribution business from Convoy International Pty Ltd on January 31, 2023.