Acquired Opia to enhance its UK digital business: Village Roadshow Ltd (ASX: VRL) is focusing to expand its digital business apart from its core theme parks, cinema exhibition, film production and distribution business. As a result, the group’s UK subsidiary, Edge Loyalty Systems recently reported that they are acquiring 80% of the Opia business to expand their presence in UK digital business for GBP 24 million. Management estimates this acquisition to be earnings accretive from acquisition date as well as generate a positive cash-flow. Opia’s EBITDA is forecasted to be over GBP 6 million per annum during first full year of acquisition while net profit after tax contribution for the first full year is forecasted to be over GBP2.6 million (A$5.8 million), wherein VRL will have 80% share. To read the complete report click here
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