In late trade the Big Un Ltd (ASX: BIG) share price is poised to finish the day in the black.
At the time of writing the video technology company's shares are up 2% to $1.52.
Why are its shares higher?
This afternoon Big Un announced that it has successfully completed the acquisition of the hospitality vertical from The Intermedia Group.
According to the release, the acquisition is expected to provide the company with advertising and sponsorship revenue of $6 million per annum and a direct relationship with over 65,000 Australian businesses.
These businesses include the likes of Nestle, Fox Sports, Mantra Group Ltd (ASX: MTR), Hilton, Marriott, and the Accord Group.
Management intends to fully monetize the acquisition through the sale of video subscriptions, sponsorships, and other value added products and services.
Year-to-date the company's shares have risen over 550%. You can read about why its shares have rallied so strongly here.
