May 8 (Reuters) - Novatti Group Ltd (NOV) :
- Enters into a conditional binding agreement with prophecy international
- Consideration for acquisition is $2.75 million in cash
- Acquisition is earnings accretive and will provide immediate cash flows to novatti
- Deal to acquire 100% of its basis2 billing and customer information systems (CIS) business
- Revenues generated from acquisition are expected to be a significant contributor to novatti's targeted profitability in fy2018
- Acquisition will be funded through a 1 for 4 accelerated non-renounceable entitlement offer raising approx. $3.25mln
- Deal to acquire 100% of Prophecy International's basis2 billing and customer information systems (CIS) business
