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Chatty operator picks up auctioneer

Stephen Withers
Tuesday, 03 June 2008 12:31

IT Industry - Strategy

Page 2 of 2
"Joining forces with Jumbuck will help us grow OZtion and continue to improve the range of services we offer buyers and sellers," said Druce.

"Jumbuck is a strong, highly profitable company with reliable established products. This will give OZtion users further confidence in using our auction service."

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The deal involves an upfront payment of $A1 million plus $A1 million in Jumbuck shares. Additional earn-out payments are part of the contract. Not bad for a company that's been in operation for less than two and a half years.

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