REG - ActiveOps PLC - ActiveOps acquires Enlighten Group Pty Ltd

ActiveopsAnnouncement

30/06/2025 07:00

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RNS Number : 8602O  ActiveOps PLC  30 June 2025

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE
INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO.
596/2014) WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION
IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

30 June 2025

  ActiveOps plc

("ActiveOps", the "Company" or the "Group")

ActiveOps acquires Enlighten Group Pty Ltd ("Enlighten")

Acquisition enriches ActiveOps' software offering and strengthens its position
in the North American and Asia Pacific markets

ActiveOps plc (AIM: AOM), a leading provider of Decision Intelligence software
for service operations is pleased to announce that it has acquired the entire
issued share capital of Enlighten, a competitor business to ActiveOps.
Enlighten is a software & professional services company in workforce
optimisation, predominantly serving the North American and Asia Pacific
markets (the "Acquisition").

ActiveOps has agreed to pay a total maximum consideration of up to USD$21.5
million (approximately £15.9 million), payable in cash from ActiveOps'
existing cash resources and the operating cash flow generated over the period
up to 30 June 2027.

ActiveOps Board believes that the Acquisition will:

·    Increase ActiveOps' Annual Recurring Revenue ("ARR") by approximately
USD$11.0 million (approximately £8.1 million), on a pro forma basis, and is
expected to be earnings enhancing, with an anticipated EPS accretion of no
less than 15% in its first full year of ownership, being the financial year
ending 31 March 2027.

·    Double ActiveOps' North American revenues and provide opportunity for
cross-selling of CaseworkiQ and WorkiQ into Enlighten's customer base.

·    Expand ActiveOps' software capabilities in the area of organisational
transformation, a target for investment by ActiveOps as it seeks to embed its
software more widely across its customer organisations.

·    Allow the combination of Enlighten's and ActiveOps' solutions over
time, to create additional opportunities to sell enhanced software
capabilities and services to both customer bases.

·    Deliver significant cost synergies, over time, as the operations of
the businesses are merged.

·    Bring a talented employee base including the retention of two of
Enlighten's co-founders and selling shareholders, Tony Tregurtha and Andrew
Johansen, who are assuming sales and customer relationship leadership roles in
North America and Australia respectively.

 

Overview of Enlighten

Founded in 2003, and headquartered in Sydney, Enlighten provides operational
excellence solutions, via a range of software and professional services to
over 20 enterprise customers, predominantly in North America and Asia Pacific.
Enlighten's customers are primarily in the financial services, insurance and
healthcare sectors.

In the unaudited last 12 months ended 31 May 2025, Enlighten generated
revenues of USD$15.3 million (approximately £11.9 million), an adjusted
EBITDA loss of USD$1.0 million (£0.8 million) and had net assets as at 31 May
2025 of USD$3.9 million (approximately £2.9 million).

In Enlighten's current financial year to 30 June 2025, its management team
reduced its services personnel to decrease its business exposure to
professional services revenues.

Enlighten's current run rate of SaaS revenues is approximately USD$11.0
million per annum.

Consideration for the Acquisition

The total maximum consideration for the Acquisition is up to USD$21.5 million
(approximately £15.9 million). This consists of an initial consideration of
USD$8.5 million (approximately £6.3 million), on a cash free, debt free
basis. The initial consideration has been paid in cash from ActiveOps'
existing cash resources.

Contingent deferred consideration of up to USD$13 million (approximately £9.6
million) will be payable in cash dependent on the financial performance of
Enlighten in relation to a mix of SaaS revenues delivered and contract
renewals achieved, consistent with the current run rate of the business. The
maximum contingent deferred consideration payable is:

·    up to USD$8 million (approximately £5.9 million) for the year ended
30 June 2026

·    up to USD$5 million (approximately £3.7 million) for the year ended
30 June 2027

As at 31 May 2025, ActiveOps had net cash of £21 million.

Richard Jeffery, Executive Chair of ActiveOps, commented, "The acquisition of
Enlighten significantly expands our presence in the North American and Asia
Pacific markets, brings major enterprise customers into our organisation and
accelerates our product roadmap in the area of organisational transformation
where the Enlighten team have developed a strong software solution and
skillset. We believe the combination of the two businesses will bring
considerable additional value to both customer bases and provide for increased
shareholder value. We look forward to welcoming the Enlighten team and
customers into the ActiveOps organisation and are confident of continued
growth and success."

Tony Tregurtha, co-founder of Enlighten, added, "We are delighted to be
joining ActiveOps, an organisation very much aligned to our values and ethos.
Richard and the team have established a market leading position in our
industry, and we are confident ActiveOps will be the right home for our
customers, team and offering, enabling the next stage of our journey."

The person responsible for arranging release of this announcement on behalf of
ActiveOps plc is Emma Salthouse, Chief Financial Officer.

For more information, please contact:

 ActiveOps plc                                                             Via Alma
 Richard Jeffery, Executive Chair                                          www.activeops.com (http://www.activeops.com/)

Emma Salthouse, Chief Financial Officer
 Investec Bank plc - Sole Financial Adviser, Nominated Adviser and Joint   +44 (0)20 7597 5970
 Broker
 Corporate Broking: Patrick Robb / Nick Prowting / James Smith
 Technology Advisory: Sebastian Lawrence / Maxim Zwaan / Kira Fowle
 Canaccord Genuity Limited - Joint Broker                                  +44 (0)20 7523 8000
 Simon Bridges / Harry Gooden / Harry Rees
 Alma Strategic Communications                                             + 44(0) 203 405 0205
 Caroline Forde / Will Ellis Hancock / Louisa El-Ahwal

 

About ActiveOps

ActiveOps is a Software as a Service business, dedicated to helping
organisations create more value from their service operations. ActiveOps'
Decision Intelligence software solutions are specifically designed to support
leaders with the vast number of decisions they make daily in running their
operations. Our customers make better decisions and consume less time and
effort making them. The outcomes are significantly improved, with turnaround
times and double-digit improvements in productivity. Customers can leverage
the capacity created to invest in transformation and development, and more
efficiently utilise resources.

The Company's AI-powered SaaS solutions are underpinned by 15+ years of
operational data and the AOM methodology which is proven to enhance cross
departmental decision-making.

The Company has approximately 190 employees, serving a global base of
enterprise customers from offices in the UK, Ireland, USA, Canada, Australia,
India, and South Africa. The Group's customers are predominantly in the
banking, insurance, healthcare administration and business process outsourcing
(BPO) sectors.

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