Readytech Holdings Ltd. · ASX:RDY
Readytech — Merger or Acquisition (June 2022)
14 slides from Readytech's merger presentation, Jun 16, 2022
Slide 1: Acquisition of IT Vision
16 June 2022 Acquisition of IT Vision Enhancing our position in the Government software sector
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer IMPORTANT: You must read the following before continuing. This presentation (Presentation) This Presentation, and the information contained within it does not take into account the investment has been prepared by ReadyTech Holdings Limited ACN 632 137 216 (ReadyTech o
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Forward looking statements can generally be identified by the use of forward-looking words Although the Company believes the non-IFRS financial information and financial measures provide such as 'anticipate', 'expect', 'likely', 'propose', 'will', 'intend', 'should',
Slide 4: Acquisition highlights
Acquisition highlights >. readytech
Slide 5: Transaction summary
Transaction summary • ReadyTech has signed an agreement to acquire IT Vision, a specialist provider of local government focused technology Acquisition of IT • IT Vision has more than 30 years experience in local government software, with 190 customers in Australia and 55 employees across locations i
Slide 6: ReadyTech is executing on its vertical SaaS playbook
ReadyTech is executing on its vertical SaaS playbook IT Vision addition will benefit from ReadyTech’s operating model to optimise growth Customers Adds 190 loyal and strategic customers to ReadyTech with strong expansion opportunities Growth Accelerate growth opportunity for IT Vision via optimized
Slide 7: Strategic rationale
Strategic rationale IT Vision is a strong strategic fit and complements ReadyTech’s existing government software exposure Consolidates leading market • Along with the previous acquisition of Open Office, IT Vision will enable ReadyTech to become one of the leading government software providers by po
Slide 8: IT Vision delivers significant value to ReadyTech
IT Vision delivers significant value to ReadyTech The acquisition of IT Vision will greatly enhance ReadyTech’s customer footprint and ability to service local governments across Australia IT Vision enjoys strong local government market positions ReadyTech will benefit from a highly experienced, res
Slide 9: A range of opportunities exist to optimise growth
A range of opportunities exist to optimise growth How we will drive synergies and deliver new value for customers and ReadyTech Expanded customer set Product & Technology People • Alongside Open Office, IT Vision • Opportunity to optimise product market- • Significant expansion of resources and stre
Slide 10: Consideration payable and funding structure
Consideration payable and funding structure • Upfront Consideration of $23.1 million paid using a combination of 50% cash and 50% scrip • Earnout consideration up to an additional $31.5 million paid subject to achievement of certain revenue and EBITDA milestones Consideration structure paid using a
Slide 11: Transaction structure and consideration
Transaction structure and consideration Acquisition completion is expected by 31 July 2022 subject to satisfaction of conditions precedent, including ReadyTech obtaining all necessary regulatory approvals Conditions (including necessary ASX waivers and confirmations), receipt of consents under mater
Slide 12: Trading update
Trading update >. readytech
Slide 13: FY22 trading update
FY22 trading update ReadyTech re-affirms FY22 revenue and earnings guidance • ReadyTech re-affirms its guidance of FY22 organic revenue growth in the mid-teens with full 12 months FY21 Open Office revenue being $18.3 million • Recent acquisitions of Open Windows, AVAXA and Phoenix HRIS are expected
Slide 14: Thank you
Thank you For more information please contact – Nimesh Shah Chief Financial Officer e. nimesh.shah@readytech.io
Readytech Holdings — Merger or Acquisition (June 2022) on 6ix