Motio Limited (ASX:MXO) to Divest Spawtz Business in $1.35M Deal
Transaction Details
Motio Limited has entered into a binding agreement to sell its Spawtz software business for $1.35 million in cash. The agreement includes a long-term, fee-free licence to key media-related services, ensuring continued access to audience data, uninterrupted XML feeds to digital displays, and the ability to sell online advertising inventory and electronic direct mail to advertisers.
Financial Guidance
Motio affirmed its guidance of $1.2 million+ Cash EBITDA post-transaction for FY25, despite a reduction in revenue from the sale of Spawtz. Completion of the transaction is expected by March 31, 2025.
Executive Comments
CEO Adam Cadwallader commented, “With the sale of Spawtz, this will allow a singular focus on continuing to develop our platform by expanding our current channels and to energise our continued development of new ones. Importantly, the sale will not change our earnings guidance of $1.2m+ EBITDA for FY25, despite a drop in revenue from the sale of Spawtz, as a result of the strong underlying performance of our core media assets.”
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