The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Inventis has entered a Call Option Agreement to acquire Workstations
  • Workstations are a new online office furniture store, that has already exceeded its forecast targets
  • The furniture store currently has over $6 million of quotes pending in its order book
  • Inventis share price is steady on the market today and is selling shares for 0.3¢ apiece

Inventis has confirmed its subsidiary, Vibe Furniture, has entered into a Call Option Agreement to acquire Workstations.

Workstations is an online office furniture store that are experts are workstation system and commercial office furniture.

It designs, manufacture, source and import quality workstation systems and furniture systems.

Inventis is a diversified company involved in the design, manufacture, sales and marketing of products and services.

Although Workstations is a recent start-up, it has exceeded its forecast targets and is now trading profitability. It currently has over $6 million of quotes pending in its order pipeline.

Under this agreement, Inventis has the opportunity to acquire Workstations in the future. The company has given Workstations a $256,000 loan.

The business will provide the company with additional scale, valuable experienced staff, and additional potential to market the Inventis’s existing product lines.

Inventis Limited Director, Anthony Mankarios says this agreement works well with the company’s plan to add scaled to its furniture division.

“The group will decide on the exercise of the option in due course. The group’s goal is to reach its total furniture network revenue targets of $20 million per annum,” he said.

“The company is at an exciting stage of development and expects to add valuable talent in the coming months,” Chairman Tony Noun added.

Inventis says that it has entered into early preliminary discussions with other third parties, seeking to join the group.

Inventis share price is steady on the market today and is selling shares for 0.3¢ apiece.

IVT by the numbers
More From The Market Herald
The Market Herald Video

Orcoda ranks 54th in Australian Financial Review’s prestigious Fast 100 list

Orcoda (ASX:ODA) has made the Australian Financial Review's Fast 100 list for 2023, ranked the 54th…

NEXTDC reports strong FY23 earnings; sees 2024 domestic AI growth

NEXTDC (ASX:NXT) celebrates a remarkable year of growth and innovation at the 2023 Annual General Meeting.
The Market Herald Video

Orcoda announces new SaaS transport management contract

Orcoda (ASX:ODA) has reported that its subsidiary has signed a new SaaS contract with Mini Tankers…

Findi jumps 10pc as it sweetens relationship with State Bank of India

Findi (ASX:FND) shares were up 10 per cent just before midday AEDT today as the company…