REG - AdvancedAdvT Limited - Completion of Acquisition of Celaton

AdvancedAdvTAnnouncement

01/07/2024 07:45

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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  (#_ftn1) , 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  (#_ftn2) before
development costs of £1.2m 3  (#_ftn3) . 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                                c/o Meare Consulting

 Gavin Hugill, Chief Financial Officer

 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  (#_ftnref1) Cash as at 30 April 2024.

 2  (#_ftnref2) "EBITDA" defined as Earnings before Interest, Tax,
Depreciation and Amortisation

 3  (#_ftnref3) Under IFRS, the treatment of development costs are subject to
capitalisation.

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