Business
Acquisition of Vita Software
Acquisition of Vita Software.
About this update from Microlise Group Plc
[{"type":"text","content":"\n \n \n 14 March 2023\n \n \n \n \n \n \n Microlise Group plc\n \n \n \n (\"Microlise\", \"the Group\" or \"the Company\")\n \n \n \n \n \n \n Acquisition of Vita Software\n \n \n \n \n £2.06M Strategic Acquisition Expands Microlise's Product Offering\n \n \n \n \n \n \n \n \n \n Microlise Group plc (AIM: SAAS), a leading provider of SaaS based transport technology solutions to fleet operators, is pleased to announce the acquisition of Vita Software, a leading provider of transportation management system (\"TMS\") solutions, for a total consideration of £2.06 million. The acquisition will expand Microlise's suite of transport technology solutions and\n is expected to immediately enhance earnings.\n \n \n \n \n \n Established 2012 in the UK, Vita Software is a SaaS based TMS (Transportation Management System) who are highly regarded and profitable,\n adding\n recurring revenue to the Microlise Group. They provide a range of order management products to fleet logistics operators, which includes resource and transport costing, subcontractor management and invoicing solutions. Business and product integration will begin immediately, and all existing staff being retained.\n \n \n \n \n \n Microlise's existing solutions manage the safe, compliant, and efficient execution of the transport movements through its range of subscription services, offering the tracking and execution of generated orders. Vita Software's TMS capabilities provides upsell and cross-sell opportunities, embedding Microlise even further into its existing customers' operations. The software only system is applicable to fleets of all sizes, supporting the Group's strategy to expand its value proposition further into medium sized fleets, with an enriched product offering.\n \n \n \n \n \n The Company will pay an initial consideration of £1.86 million cash payment for Vita Software, on a cash free, debt free basis, with the initial consideration funded from the Company's existing cash reserves. In addition, the Company will pay a deferred consideration of £0.2 million after 12 months subject to any claims.\n \n \n \n \n \n Vita Software generated Adjusted EBITDA of £0.25 million in the year ended 30 September 2022.\n \n \n \n \n \n \n Commenting on the acquisition, CEO Nadeem Raza said\n \n :\n \n \n \n...