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WILMINGTON, Del., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (OTC: ONFOP) (the "Company" or "Onfolio"), a company that acquires and manages a diversified portfolio of online businesses, today announced that it has successfully completed the sale of its BWPS WordPress business for $780,000 to WebStreet, a micro private equity investment fund in an all-cash deal, with $650,000 cash released immediately and $130,000 held back pending final completion of migration. The Company expects to record a capital gain of approximately $150,000 from the sale. For the fiscal year ended 12/31/2023, the BWPS WordPress business generated approximately $360,000 in revenue and $200,000 in unaudited adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”).
“We decided to sell our BWPS WordPress business so that our management team can focus on our growing B2B agency portfolio, and our information products business lines, which now constitute our core businesses,” commented Onfolio CEO Dominic Wells, “We plan to use the $780,000 to strengthen our balance sheet, for working capital, and to facilitate additional acquisitions in our core businesses.”
About Onfolio Holdings
Onfolio acquires and manages a diversified portfolio of online businesses. Onfolio acquires business that meet its investment criteria, being that such businesses operate in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats of technological or competitive obsolescence and can be managed by our existing team or have strong management teams largely in place. The Company excels at finding acquisition opportunities where the seller has not fully optimized their business, and Onfolio's experience and skillset allows it to add increased value to these existing businesses. Visit www.onfolio.com for more information.
About WebStreet
Established in 2021, has raised over $50M and acquired 50+ assets, giving passive investors exposure to small and medium profitable online businesses. WebStreet partners with world-class operators to acquire and grow SaaS, e-commerce, media, and service-based businesses.
About FE International
The transaction was brokered by FE International. Founded in 2010, FE International is an award-winning strategic advisor for technology businesses. FE’s team has completed over 1,500 transactions with a combined value of over $50 billion. FE International was named one of The Americas’ Fastest Growing Companies from 2020 to 2024 by the Financial Times and is also a four-time Inc. 5000 company.