Invigor Group (ASX: IVO) Eyes New Deals after Sprooki Acquisition

KEY TAKEAWAYS:

• Australian publicly-listed company Invigor acquired Sprooki for $10 million and benefited from the deal in terms of increasing interest and income for the company.
• Invigor’s popularity is welcome news for stakeholders after the company posted $8.5 million in losses including impairment charges of over $6 million.
• Invigor reported a 2.8% revenue increase for the first half of the year compared to the same period last year.

Invigor, a publicly-listed company in Australia, is eyeing increased sales and more deals in the pipeline after it acquired Sprooki for $10 million.

Sprooki is a startup company that provides retail e-commerce analytics. The company provides a marketing system that connects retailers to the Asia-Pacific market.

Invigor’s acquisition of Sprookie in April aimed to make retailers more competitive in the market considering the entry of new companies like Amazon. The acquisition has worked both ways as it has already increased not only interest in the company but also its revenues.

“We have secured a series of contract wins over the past three months in addition to the significant growth of our sales pipeline,” company officials said.

As a result, Invigor has signed new contracts with diversified companies such as Sharp Australia which is a manufacturer of home and business products, Zoos Victoria which is a zoo-based conservation organisation and Pernod Ricard Australia which manufactures wines and spirits.

Invigor also recently signed an agreement with multinational technology company Microsoft for the use of its Shopper Insights by cloud computing service Microsoft Azure.

“Invigor looks forward to exploring more opportunities to build transformational retail solutions leveraging the Microsoft cloud platform and go-to-market investments. Invigor previously announced channel partnerships with eBay and GoDaddy for the SpotLite platform,” the company said.

This development is good news for Invigor’s stakeholders considering that it posted $8.5 million in losses for the previous six months ending June. The amount includes over $6 million in impairment charges consisting of the $4.6 million incurred due to Invigor Digital Solutions’ goodwill and $1.4 million incurred due to its investment in TUXXE.

In its financial report for the first half of the year which was reported in August, Invigor reported a 2.8% increase in revenues of $4.7 million compared to the same period last year.

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