East Africa Resources (ASX:EAF) has signed an agreement to acquire emerging security business Threat Protect Australia Pty Ltd.
Threat Protect generates revenue from traditional phone line monitoring, GPRS monitoring and emerging Smart App technology.
It delivers its services to in excess of 8,500 business and domestic customers through its direct and reseller network.
At completion of the acquisition, the company will seek the approval of shareholders to change its name to Threat Protect Australia Limited.
It will also be required to re-comply with ASX listing rules as the acquisition represents a change in the scale and nature of the company’s activities.
East Africa Resources will seek to raise $5 million to execute the growth strategies of the business.
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