RNS Number : 5526U
AdvancedAdvT Limited
01 July 2024
 

1 July 2024

 

AdvancedAdvT Limited

 

Acquisition of Celaton

 

AdvancedAdvT Limited (AIM: ADVT, "AdvT", "the Group"), the international software solutions provider for the business solutions, healthcare compliance, and human capital management sectors has completed its acquisition of Celaton Ltd ("Celaton"), the operator of an intelligent document processing platform inSTREAM (the "Acquisition"), for cash consideration of £5.0 million net of cash acquired of £1.5m[1], initially announced on 7 May 2024.

 

In the 12 months ended 30 June 2023, Celaton recorded revenue of £3.3m, (80% recurring subscription/transactional) with EBITDA[2] before development costs of £1.2m[3]. As at 30 June 2023, Celaton had net assets of £1.5m.

 

The Acquisition was conditional upon National Security and Investment Act approval, which has been received.

 

Vin Murria, AdvancedAdvT's Executive Chairperson, said

"We are pleased to announce the timely completion of this acquisition, which strategically offers an improved alternative for a key supplier exiting the market. This timely move proves highly beneficial for the ADVT customer base and underscores our commitment to delivering exceptional service and value."

Enquiries:

 

AdvancedAdvT Limited


Vin Murria, Chairperson

Gavin Hugill, Chief Financial Officer

c/o Meare Consulting



Singer Capital Markets (Nominated Adviser and Broker)

Tel: 020 7496 3000

Philip Davies / Asha Chotai / Sam Butcher




KK Advisory (Investor Relations)

Tel: 020 7039 1901

Kam Bansil 


 

Meare Consulting 


Adrian Duffield

Tel: 07990 858548

 

Note to Editors

 

AdvancedAdvT Limited (AdvT) provides software solutions and platforms across two business transformational areas: business solutions & healthcare compliance, and human capital management.

The Group's operations are IBSS (financial management software), CHKS (AI based healthcare intelligence compliance and accreditation software), Retain (global resource planning and talent management software) and WFM (workforce management software provider).

AdvT is an agent for change. The Group enables the delivery of Artificial Intelligence ("AI"), data analytics and business intelligence, all of which are key future drivers for growth in these sectors where long term digitisation trends are set to transform the workplace for professionals. 

AdvT is developing both organically and through acquisitions, by expanding its presence across adjacent markets, geographical boundaries and digital sectors.

 


[1] Cash as at 30 April 2024.

[2] "EBITDA" defined as Earnings before Interest, Tax, Depreciation and Amortisation

[3] Under IFRS, the treatment of development costs are subject to capitalisation.

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