Brisbane-based digital marketing firm XPON Technologies Group (XPON) has entered into a binding agreement to divest its Google Marketing Platform (GMP) and Google Cloud Platform (GCP) business through the sale of Datisan to Incubeta Australia, which is part of the international Incubeta Group.
Datisan is an Australian digital marketing technology company and one of a select group of certified GMP and GCP reseller and managed services businesses in the Asia-Pacific region, according to XPON, delivering data analytics, marketing technology, and GMP services to enterprise clients across Australia and New Zealand.
Incubeta will acquire the entire issued share capital of Datisan with a completion payment of A$5.5 million in cash, payable at completion, plus a contingent earn-out consideration of up to A$2 million.
The proceeds from the sale are intended to be applied to recalibrating the company’s balance sheet, funding the growth and continued development of the Wondaris AI Marketing Platform, and providing capital to pursue XPON’s strategic M&A objectives in the AI sector.
“The divestment of Datisan is a pivotal strategic step for XPON,” said Mark Simari, chairman, of XPON Technologies Group.
“We have built an outstanding business in Datisan, and Incubeta - backed by The Carlyle Group - is an ideal home for the team and their clients.
“For XPON shareholders, this transaction delivers meaningful capital, clears the path for us to invest with conviction in our Wondaris AI Marketing Platform, and provides the financial flexibility to pursue our AI-focused M&A strategy. The Board is unanimous in its support and looks forward to presenting full details to shareholders in due course.”
Last year, XPON made Wondaris available on Google Cloud Marketplace.
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