⌘K
t
AdvancedAdvT Limited completed its acquisition of Celaton Ltd on 1 July 2024 for a cash consideration of £5.0 million, net of £1.5 million cash acquired, following receipt of National Security and Investment Act approval. In the 12 months ended 30 June 2023, Celaton recorded revenue of £3.3 million and EBITDA before development costs of £1.2 million. As at 30 June 2023, Celaton had net assets of £1.5 million.
| Date | 1 Jul 2024 |
| Time | 07:45:01 |
| Category | Acquisitions and alliances |
| ID | 5526U |
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.