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BRIEF-Threat Protect Australia secures option to acquire 2 businesses in NSW & QLD

Published 05/01/2017, 10:11 am
Updated 05/01/2017, 10:20 am
© Reuters.  BRIEF-Threat Protect Australia secures option to acquire 2 businesses in NSW & QLD
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Jan 5 (Reuters) - Threat Protect Australia Ltd TPS.AX

* Asx alert-TPS secures option to acquire 2 businesses in NSW & QLD

* Entered into an option agreement to acquire apollo security pty, a sydney based security services business for approximately $6.0 million

* Acquisition would grow threat protect's national presence adding anticipated recurring annual revenue of $3.2 million

* Acquisition expected to generate over 100% increase on threat protect's fy 2016 total security monitoring revenue; be immediately eps accretive

* Proposed acquisition will be fully funded by company's acquisition funding facility with first samuel announced in november

* Anticipated revenue from apollo business would more than double company's total monitoring revenue invoiced in fy 2016 of $2.84 million. Source text for Eikon: ID:nASX5ry540 Further company coverage: TPS.AX

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