By Maryam Cockar
Date: Monday 20 Mar 2017
(ShareCast News) - Shares surged in Bos Global on Monday after the workplace software company announced it will buy a 40% stake in Call Design, an Australia-based call centre provider, for cash and shares.
The AIM-listed company will be the 40% interest for £280,000 in cash, funded through drawdowns on its existing convertible loan note facility, and the issue of 5.04m Bos shares at 50p worth £2.8m.
Bos said the acquisition fits into its growth strategy for targeting the Australian, UK and US markets and will also provide multiple cross-selling opportunities.
Call Design's clients includes all four of Australia's major banks, international telecommunications companies, blue chip insurers and governmental bodies, spanning 26 countries.
Bos chief operating officer Mark Uren said that with the two companies there is a "strategic opportunity to create a strong, unique and integrated offering, which increases our clients' business performance and in turn positively impacts our sales".
He added that Bos is making progress towards the launch of its BOS360 work patterns platform with a targeted launch in May, which will "further strengthen our competitive software product and service offering".
Call Design director Brett Redman said that the company will deploy Bos' offering, including BOS360, to its international client base.
Shares in Bos Global were up 10.18% to 13.91p at 0937 GMT.
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