Business
Completion of Acquisition of Celaton
Completion of Acquisition of Celaton.
About this update from Advancedadvt Ltd.
[{"type":"text","content":"\n\n1 July 2024\n \nAdvancedAdvT Limited\n \nAcquisition of Celaton\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 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.\n \nIn 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.\n \nThe Acquisition was conditional upon National Security and Investment Act approval, which has been received.\n \nVin Murria, AdvancedAdvT's Executive Chairperson, said\n\"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.\"\nEnquiries:\n \n\n\n\n\nAdvancedAdvT Limited\n\n\n\n\n\n\n\nVin Murria, Chairperson\nGavin Hugill, Chief Financial Officer\n\n\nc/o Meare Consulting\n\n\n\n\n\n\n\n\n\n\n\n\nSinger Capital Markets (Nominated Adviser and Broker)\n\n\nTel: 020 7496 3000\n\n\n\n\nPhilip Davies / Asha Chotai / Sam Butcher\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nKK Advisory (Investor Relations)\n\n\nTel: 020 7039 1901\n\n\n\n\nKam Bansil \n\n\n\n\n\n\n\n \n\n\n\n\nMeare Consulting \n\n\n\n\n\n\n\nAdrian Duffield\n\n\nTel: 07990 858548\n\n\n\n\n \nNote to Editors\n \nAdvancedAdvT Limited (AdvT) provides software solutions and platforms across two business transformational areas: business solutions & healthcare compliance, and human capital management.\nThe 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).\nAdvT is an agent for change. The Group enables the delivery of Artificial Intellige...