RE: Semnet deal1 Aug 2024 18:54
Emnet had a turnover of US$5.55 million and reported profit before tax of approximately US$0.23 million for financial year end 30 September 2023. The subsidiary's assets and liabilities as at 31 March 2024 were US$1,069,981 and US$914,611 respectively.
Fair value of net identifiable assets at the date of acquisition amounted to US$115,105 resulting in goodwill on acquisition of US$1,723,270.
The goodwill is attributable to high profitability of the acquired business and the significant synergies expected to arise after the acquisition.
They will benefit from it as they paid for it!