No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - MTI Wireless Edge said on Monday that it has acquired the remaining 50% stake in its Australian subsidiary Mottech Parkland, taking full ownership of the business.
The AIM-traded technology group said the acquisition was completed through its water management subsidiary Mottech Water Solutions, with consideration of AUD 0.55m (0.28m).
Following the transaction, Mottech Parkland became a wholly owned subsidiary of the group.
Chief executive Moni Borovitz said Australia accounted for around 10% of Mottech's revenue in 2025 and described the country as an important and growing market for the group.
He said effective water management was critical given local climate conditions and noted forecasts that the Australian irrigation automation market was expected to reach $743m by 2030, representing a compound annual growth rate of 22.5%.
"We believe that this is an opportune time to take full ownership of Mottech Parkland and more actively pursue opportunities to expand the business in a fast-growing market," Borovitz added.
At 1306 GMT, shares in MTI Wireless Edge were down 1.89% at 52p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.