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Jumbuck sells off CarBuddy assets

Jumbuck sells off CarBuddy assets

Mobile application developer Jumbuck Entertainment (ASX:JMB) has sold its CarBuddy assets to online motoring portal CarAdvice.com.au.

The CarBuddy business had been designated non-core to Jumbuck’s new corporate strategy, company CEO David Gibbs said.

While the financial terms of the deal were not disclosed, Jumbuck revealed it will have a positive contribution to cash balance, but impact earnings by around $200,000 in FY10.

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Tags Mergers and acquisitionsCaradvice.com.auCarBuddyJumbuck Entertainment

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