Jaxsta Limited (AU:VNL) has released an update.
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Vinyl Group is set to enhance its in-house event capabilities and drive growth with the acquisition of Funkified Entertainment for $2.5 million, comprising cash, shares, and performance-based deferred shares. This strategic move promises to improve Vinyl Group’s margins and projects an impressive $4.03 million turnover with a $430K EBITDA for FY24. The acquisition is contingent on due diligence and necessary approvals, with completion expected by the end of December 2024.
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