Solution 6 Holdings yesterday added another feather to its services cap with the acquisition of business transaction software developer Dataline Systems for $4.5 million.
The financial transaction comprises $2.25 million in cash and $2.25 million worth of Solution 6 shares at a fixed price of $5.25 per share, the company reports.
According to Solution 6, the acquisition is designed to give its account customer base access to business transaction applications as part of the financial services its customers offer to clients.
Sydney-based Dataline is known for its LINKS software range that includes payments solutions (cheque and EFT), remittance advice, purchase orders, invoices and statement printing, automatic faxing, receipting, electronic bank statements and full cash book reconciliation and cash receipting.
The acquisition is still subject to the execution of a business purchase agreement and shareholder approval, Solution 6 reports.