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GO2 People to acquire registered training organisation

The acquisition will help build revenue, which hit $45 million in FY18.

big fish eating smaller fish representing M&A
The company listed on the ASX in 2017 raising $10 million

GO2 People Ltd (ASX:GO2) has entered a binding term sheet to acquire GO2 Skills & Training Pty Ltd, a registered training organisation (RTO).

The acquisition follows the alliance agreement entered into between the two companies during July 2018.

The RTO delivers industry-specific training and education to the construction and resources sectors.

No cash to be paid by GO2 People for acquisition

GO2 will not outlay any additional capital for the acquisition as it will be offset against the loan balance owing by GO2 S&T to the company at the time of acquisition, being $465,000.

READ: GO2 People looks to profits after tripling revenues

GO2 People listed on the ASX in October 2017 after a successful initial public offering that raised $10 million.

The company is a leading provider of vertically integrated recruitment and building services to industry throughout Australia.

GO2 achieved its FY18 group revenue target of $45 million, an increase of 30% on FY17.

Quick facts: The GO2 People Ltd

Price: 0.04 AUD

ASX:GO2
Market: ASX
Market Cap: $5.7 m
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