Golden Matrix agrees to acquire 80% of Classics for a Cause
Golden Matrix Group said it had agreed to acquire an indirect 80% controlling interest in Australian discount platform Classics for a Cause. The announced price is approximately $8.4 million, including an earnout; 70% is payable in cash and 30% in restricted Golden Matrix shares. Completion is subject to customary conditions and was expected within the next several days.
The proposed acquisition would give Golden Matrix control of an Australian consumer loyalty and rewards business.