Credit Clear Limited entered into a binding agreement to acquire DRA Group for AUD 1.5 million.

Credit Clear Limited (ASX:CCR) entered into a binding agreement to acquire DRA Group for AUD 1.5 million on November 3, 2023. The consideration is payable in a 60/40 cash/scrip ratio and will be funded through the Credit Clear?s existing cash reserves and available placement capacity. The key persons of DRA will be retained.

DRA generated AUD 2.1 million in revenue in FY23. The transaction is expected to complete within 30 days from the exchange of binding contracts. The transaction is expected to be immediately cash and earnings accretive.