Eroad to acquire Coretex, raise capital

Eroad says the Coretex purchase will speed up its entry into new industries. (Image: Supplied)

Wed, 14 Jul 2021

Eroad, the transport technology and vehicle telematics company, has conditionally agreed to acquire Coretex, an Auckland-based telematics provider.The deal will be “partly funded by an underwritten conditional placement to raise $64.4m and a share purchase plan to raise $16.1m”, Eroad said.In a statement to the NZX, Eroad said the acquisition will be completed in the second half of the March 2022 financial year and is subject to Commerce Commission clearance, Overseas Investment Office approval, and the approval of Eroad shareholder...

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