- Creative technology company Enero (EGG) sells two of its businesses to market research company FiftyFive5
- The Leading Edge and The Digital Edge businesses have been sold for $1.35 million as Enero is refining its portfolio
- The company is focused on complementary brands and services that align with its operating strategy and to help drive organic and global growth
- EGG shares are down 1.16 per cent and trading at $3.40
Creative technology company Enero (EGG) has sold two of its businesses to market research company FiftyFive5.
The company sold its The Leading Edge (TLE) and The Digital Edge (TDE) businesses for a cash consideration of $1.35 million.
Enero bought the TLE and TDE businesses in 2004. For the full FY21 period, the combined businesses contributed $2.7 million (1.7 per cent) of net revenue and $1.3 million (1.4 per cent) for the first half of FY22.
Enero said the sale aligns with its goal of refining its portfolio to include complementary brands and services.
Enero’s current portfolio includes digital agency Orchard; creative agency BMF; brand, marketing and PR consultancy Hotwire; programming marketing platform OBMedia; and issues management comms advisory CPR.
“[We] continue to refine our portfolio of global brands and progressive services to align with our operating strategy and drive organic and cross-geographical growth,” Enero CEO Brent Scrimshaw said.
The company said it’s “relentlessly focused” building scale and adding digital capabilities across different markets in its core verticals.
EGG shares were down 1.16 per cent, trading at $3.40 at 3:08 pm AEST.