Plexure Completes TASK Deal and Announce New TASK Clients

4/10/2021, 8:30 am MKTUPDTE

Plexure Group Limited (NZX/ASX:PX1) (Plexure) is pleased to announce the completion today of their A$120.0 million acquisition of Australian-based Task Retail Pty Limited and its global subsidiaries (TASK). After Shareholders voted overwhelmingly in favour of the acquisition at the Special Meeting last week, the remaining conditions to close the deal have been met and Daniel Houden assumes his role as Plexure's CEO and executive director.

"Today is such a momentous day. It's been a journey to get here, but ultimately this is just the beginning," said Mr Houden. "The combined proposition effectively enables an end-to-end cloud engagement and transaction platform, complete with all the functionality to transact with the added benefits of personalisation and data-driven insight, allowing our customers to maximise the relationship with their consumers. It's a powerful proposition, that will truly innovate the way high-frequency retailers retain and grow their customer base."

With the acquisition now completed, Plexure is excited to announce some positive outcomes delivered by TASK since the announcement of the deal on 16 August. In the last seven weeks TASK have signed up several new clients, including:

- SkyStadium implementing industry leading transaction platform;
- Extending its relationship with Compass Group Australia to roll out across the enterprise; and
- Bakers Delight selecting their online ordering solutions (TOLO) to deploy across all 500+ Australian bakeries.

Daniel concludes, "The opportunity ahead for this business is immense and I am honoured and thrilled to be leading the combined group through its next stage of growth."Bill Crichton is also appointed to the Plexure Board as an independent, non-executive director today.ENDS

For further information:André Gaylard
Chief Financial Officer
Mobile: +64 21 288 3355
Email: [email protected]