Serial Systems acquires Swift Value for over $10m

It’s a distributor of printer accessories.

Serial Systems has fully acquired printer accessories distributor Swift Value for a total consideration of around $13m.

Serial Systems has entered into a sale and purchase agreement (SPA) with Swift Value, under which the company will acquire the entire shareholding interest in the capital of Swift Value from owner Neo Siew Wah.

The consideration is made up of $3m for the total amount of Swift Value's net tangible assets, along with a premium of $10m. 

Serial Systems will also give  Neo a 20% share of the NPAT for each of financial years ending 31 December 2015, 2016 and 2017, upon the finalization of the audited financial statements of Swift Value in each of the relevant financial years.