GrowthOps enters exclusive discussions to acquire Entrago
Marketing and technology company GrowthOps has entered exclusive discussions to acquire Entrago, a Brisbane-based company that implements the ServiceNow cloud platform. The announcement follows Growthops’ acquisition of agencies such as Khemistry, AJF Partnership and Voodoo Creative.
Entrago has 19 staff and an estimated $1.7 million annual revenue.
GrowthOps and Entrago have signed a non-binding term sheet
“With this acquisition, we believe we can execute on one of our core growth strategies – tapping into the rapid growth of the cloud ecosystems across the Asia Pacific region and helping our clients to truly optimise those platforms,” said GrowthOps chairperson Dominique Fisher.
“Entrago brings to GrowthOps an experienced team and unique expertise in working alongside clients to unlock the value that ServiceNow’s digital workflow solutions offer.”
GrowthOps and Entrago have signed a term sheet, however it is not binding, meaning there is a chance the transaction could fall through.
Paul Mansfield, Growthops CEO, and Cameron Douglas-Savage, Entrago founder, previously worked together at Cloud Sherpas, a cloud advisory and technology services company where Mansfield was managing director.
Growthops recently launched a $5m share buy-back program, despite posting a $48m loss following its acquisition of Asia-Pacific Digital.
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19 staff with a $1.7m turnover. Not much meat left on the bone there. The final deal will be interesting seeming the two heads have history.
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This is hilarious
Why do a $5m share buyback to return cash to shareholders, and then decide to buy another company
All while posting a $48m loss
Financials all in hand obviously, carry on..
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