The Board of Broad Investments (BRO) is very pleased to announce it has entered into an Agreement with the shareholders of Unified Business Communications Group Pty Ltd (UBCG) to acquire all issued capital in UBCG, which owns and operates a suite of small but well-established telecommunications businesses. UBCG’s business includes the installation of PABX telephony systems, equipment and other associated telephony products. It also has the capacity to offer airtime and other related telecommunications services. It has a small number of well trained staff and accredited technicians with Alcatel and Panasonic relationships.
Importantly, the purchase of UBCG is a synergistic acquisition for Broad’s wholly owned subsidiary telecommunications business, Mirrus Managed Services. The purchase will allow UBCG to leverage off the existing 130 engineers under contract with Mirrus to expand its service offerings in capital cities and in particular in larger towns in regional Australia, where many such technicians and engineers are located. Consideration for the acquisition will be $400,000. This includes all assets and liabilities of UBCG, goodwill, stock, work in progress, debtors, creditors, cash at bank, intellectual property and equipment. Of the total consideration of $400,000, at least $170,000 will be paid for by issue of shares (85million shares at $0.002) with the balance payable within 6 months in either cash or further shares at the discretion of the Company.
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