Business
Acquisition of HFX Limited
Acquisition of HFX Limited.
About this update from Advancedadvt Ltd.
[{"type":"text","content":"\n\n14 May 2025\n \nAdvancedAdvT Limited\n \nAcquisition of HFX Limited\n \nAdvancedAdvT Limited (AIM: ADVT, \"AdvT\", \"the Group\"), the international software solutions provider for the business solutions, healthcare compliance, and human capital management sectors has agreed to acquire HFX Limited (\"HFX\"), the provider of a cloud based workforce management SaaS solution (the \"Acquisition\"), for a total consideration of £5.3 million net of cash acquired of £0.6 million1, of which £2 million is deferred over two years2. The acquisition will be funded from the Group's existing cash resources.\n \nAcquisition highlights\nIn the 12 months ended 31 December 2024, HFX recorded pre-exceptional revenue of £3.39 million (73% recurring), with pre-exceptional EBITDA3 of £0.93 million and had net assets of £2.51 million4.\n \nStrategic Rationale for the Acquisition\nHFX provides workforce management software to over 450 customers across a wide range of sectors ranging from SMEs to smaller enterprise customers. Combined with WFM the acquisition significantly expands the Groups existing workforce management software offering with a complimentary SaaS product, enabling us to better serve both enterprise and SME customers with tailored solutions. It will also provide an alternative solution for smaller on-premise clients to migrate to and enjoy all the benefits a cloud solution. HFX further expands our addressable market and scale in the UK, aligning with our strategy to enhance long-term growth through recurring SaaS revenues.\n \nVin Murria OBE, Chairperson of AdvancedAdvT, commented:\n\"HFX is a recognised leader in workforce management software. It expands our presence in the space and aligns strongly with our strategy to invest in quality software businesses that drive efficiency and long-term value for its customers. We look forward to working closely with the HFX team to unlock value and deliver enhanced integrated solutions to a broader client base.\n \n\"We continue to look for complementary acquisitions that further enhance our offering to clients and creates value for shareholders.\"\n \n \n1. Cash as at 30 April 2025.\n2. £2m deferred payment is £1m due on 13/05/2026 and £1m due on 13/05/2027. There are no performance conditions.\n3. \"EBITDA\" defined as Earnings be...