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:
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AdvancedAdvT Limited
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Vin Murria, Chairperson
Gavin Hugill, Chief Financial
Officer
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c/o Meare Consulting
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Singer Capital Markets (Nominated Adviser and
Broker)
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Tel: 020 7496 3000
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Philip Davies / Asha Chotai / Sam
Butcher
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KK
Advisory (Investor Relations)
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Tel: 020 7039 1901
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Kam Bansil
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Meare Consulting
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Adrian Duffield
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Tel: 07990 858548
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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.