Building energy management solutions company EPX (ASX: EPX) has satisfied all the conditions required to acquire Australian energy efficiency platform WattWatchers, which was recently placed into voluntary administration.
EPX submitted a deed of arrangement proposal to the administrators this month outlining an acquisition price of $1.05 million, of which it will pay $550,000 in cash and the remaining $500,000 in fully-paid shares at $0.32 per share.
WattWatchers generates recurring revenue through device subscriptions and data platform services, creating a scalable business model.
EPX expects the acquisition to add up to $3 million to its bottom line, almost doubling the company’s Australian returns in its core energy monitoring…