EROAD Limited (NZX: ERD) NZ Commerce Commission Clears Coretex Acquisition

Thursday 18th November 2021

Transportation technology services company EROAD (NZX/ASX: ERD) welcomes the Commerce Commission’s decision to grant clearance for the Coretex acquisition.

EROAD announced on 14 July 2021 that it had entered into a conditional agreement to acquire 100% of Coretex Limited (“Coretex”), a telematics vertical specialist provider delivering enterprise grade solutions. The acquisition is expected to accelerate EROAD’s key growth metrics by two years enabling it to capture the significant growth opportunity in North America and Australia. It also accelerates growth by adding new strategic verticals and broadens EROAD’s product and customer base.

The acquisition, which has also received shareholder approval and Overseas Investment Office Consent, is now due to complete on 1 December 2021.

Please see the link below for details

NZ Commerce Commission Clears Coretex Acquisition

Source: EROAD Limited

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