Cosol (ASX:COS) is making a strategic acquisition, by entering into a binding purchase agreement to acquire 100% of Asseton Group and Onplan Technologies.

The total cost of this acquisition is estimated to reach up to A$29M, which comprises both cash and scrip.

The cash component of this purchase will be funded from a A$15M placement and a A$4.6M drawdown on a debt facility.

The acquisition of Asseton Group and Onplan Technologies is expected to positively impact Cosol’s finances, particularly it is projected to be low double-digit earnings per share accretive on a pro forma basis in FY24.

Notably, unaudited FY23 revenue was reported at A$75.1 million.

Cosol is a company that specializes in providing strategic acquisitions and various technologies.