Onfolio Holdings Inc. announced on December 12, 2024, the successful sale of its BWPS WordPress business for $780,000 in an all-cash deal to WebStreet. The transaction included an immediate release of $650,000 in cash, with $130,000 held back pending final migration completion.
For the fiscal year ended December 31, 2023, the BWPS WordPress business generated approximately $360,000 in revenue and $200,000 in unaudited adjusted EBITDA. Onfolio expects to record a capital gain of approximately $150,000 from this sale.
CEO Dominic Wells stated that the divestiture allows the management team to focus on the growing B2B agency portfolio and information products business lines, which now constitute the company's core businesses. The proceeds from the sale are planned to strengthen the balance sheet, provide working capital, and facilitate additional acquisitions within these core areas.
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