Business
Acquisition of RosterOn in Australia
Acquisition of RosterOn in Australia.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \nRNS Number : 7711J Allocate Software PLC 05 July 2011 \n \n\n \n5 July 2011\n \nALLOCATE SOFTWARE PLC\n(\"Allocate\" or \"the Company\")\n \nAcquisition of RosterOn in Australia\n \nAllocate Software plc announces that it has acquired RosterOn Pty Ltd (\"RosterOn\"), an Australian based provider of workforce management software with a focus on the Australian healthcare market, for A$3.0 million (£2.0 million)1 (the \"Acquisition\"). This gives Allocate a much stronger local presence and is in line with its ambitious growth plans for the Australian healthcare market.\n \nOverview of RosterOn and the Acquisition\n§ RosterOn is a leading, local Australian provider of staff rostering software, principally for the Australian healthcare market\n§ RosterOn has product functionality complementary to Allocate's, including an Awards interpretation engine tailored specifically for the Australian Market (complex rules relating to salary fixing arrangements)\n§ c. 70% of revenues come from RosterOn's 43 healthcare customers according to unaudited management accounts, with the balance spread across multiple sectors including mining, logistics, manufacturing and retail\n§ In the year ended 30 June 2011, unaudited management accounts show c. A$3.0 million in revenues and approximately A$0.6 million in EBITA\n§ All 17 RosterOn employees will be retained\n§ Upfront consideration of A$2.6 million payable in cash with further consideration of A$0.4 million payable in cash and in full upon the retention of the key directors of RosterOn for 18 months from completion\n§ The Board believes the acquisition will accelerate the expansion of Allocate's business in Australia and that it will be earnings enhancing, before one time deal costs, in the financial year to 31 May 2012\n \nInformation on RosterOn\nRosterOn was founded in 2002 and is based outside Melbourne, Victoria, Australia. It is a leading provider of rostering, labour management, and time & attendance software in Australia. RosterOn has developed an interpretation engine specifically for Australian Awards - complex rules for wage fixing arrangements relating to minimum pay, minimum number of breaks per hour, minimum level of overtime compensation and pay related activities (e.g. working through a break).\n \nCustomer Base\nAll of Ros...