AUCKLAND: Enprise Group has increased its holding in iSell Pty Limited to 67.6%, a news release said.
Enprise has purchased 1,824,797 shares in iSell Pty Limited from existing shareholders for A$0.30 per share.
Enprise has used existing cash reserves for this acquisition. The purchase of these shares is subject to pre-emptive rights in the iSell shareholders agreement. Any exercise of pre-emptive rights will occur before 31 December 2020.
iSell is a quoting system used by the information technology reseller market in Australia, New Zealand, South Africa, U.K. & Ireland. iSell has increased the number of customers using IT Quoter cloud from 133 at 31 December 2019 to 240 as at 23 November 2020, at 80.5% increase.
Listed on the New Zealand Exchange (NZX) Main Board, Enprise Group (ENS) is an investment vehicle for high-growth tech companies that complement its core ERP capability.
Enprise Group is invested in five businesses – the wholly owned companies Enprise Solutions and Kilimanjaro Consulting, subsidiary iSell, joint venture Datagate Innovation, and a holding in Vadacom.