Plexure Group more than halved its annual loss as the cashed-up mobile advertising firm boosted revenue, and it's now looking at acquisitions to accelerate that growth.
The tech minnow is sitting on $12.7 million in cash, after McDonald's paid $5.4 million for a 9.9 per cent stake, adding to the $7.3 million at the end of the March financial year.
Chair Phil Norman said the company expects to build its relationship with McDonald's with new products and services, and anticipates winning new customers in the 2020 financial year.
"Given the cash resources the company now has available, the board may also consider acquisitions to accelerate its organic growth strategy, secure new technologies or source pools of talent," Norman said in the annual report.
The shares jumped 7.4 per cent to 58 cents, valuing the company at $80.8 million. McDonald's paid 39.05 cents a share for its investment in April, a premium to the 31 cents they traded at before the April 2 announcement.