News: Cabcharge acquires Maxi Taxi business

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Cabcharge Australia Limited (ASX:CAB) has acquired the Maxi Taxi Australia business and other assets for under $5 million.



Other assets include are the Maxi taxi trademark and the company’s 13MAXI phone number.



Maxi Taxi holds 11 taxi licenses and 5 limousine licenses across the ACT, Brisbane and regional centres throughout Queensland.



The transaction was fully funded internally and is not expected to have a material impact on earnings.



Cabcharge says it is pleased to be able to continue diversifying within the industries it knows best.



Cabcharge generated a net profit of $59.9 million in the 2012 financial year.