REG - AdvancedAdvT Limited - Acquisition of Goss Technology Limited

AdvancedAdvTAnnouncement

30/05/2025 07:00

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RNS Number : 7667K  AdvancedAdvT Limited  30 May 2025

30 May 2025

 

AdvancedAdvT Limited

 

Acquisition of Goss Technology Limited

 

AdvancedAdvT Limited (AIM: ADVT, "AdvT", "the Group"), the international
software solutions provider for the business solutions, healthcare compliance,
and human capital management sectors is pleased to announce the acquisition of
Goss Technology Group Limited ("Goss"), a provider of a digital platform
enabling public sector organisations to achieve digital transformation through
innovative digital and online solutions (the "Acquisition"). The total
consideration comprises approximately £8.5 million in cash from existing
resources and approximately £5.0 million in ordinary shares. After accounting
for £6.4 million of cash acquired, the net consideration amounts to
approximately £7.1 million.(1)

 

Acquisition highlights:

In the audited 12 months ended 30 June 2024, Goss reported revenue of £5.35
million, of which 71% was recurring, EBITDA(2), excluding the capitalisation
of development costs, of £0.77 million(3) and net assets were £3.25 million.

 

The Acquisition was conditional upon National Security and Investment Act
approval, which has been received.

 

Strategic Rationale for the Acquisition:

AdvT's acquisition of Goss is a strategic move that strengthens our position
in the public sector by expanding our portfolio with scalable, low-code
digital solutions. This enhances integration across our enterprise software
offerings and supports long-term growth through recurring SaaS revenues. It
also opens up cross-selling opportunities within our existing public sector
customer base, broadening our reach across the UK and Ireland and reinforcing
our role as a trusted, mission-critical partner to government and public
sector organisations.

 

The acquisition is timely, aligning with structural changes in local
government, such as the consolidation of councils into larger unitary bodies,
and a wider push for digital transformation. These shifts are driving demand
for improved interoperability, streamlined workflows, and stronger digital
infrastructure. Goss's expertise on user-facing systems enables data to flow
between front-end interfaces and internal platforms, laying the foundation for
intelligent automation and more efficient service delivery. By leveraging
these trends, AdvT is well-positioned to meet the evolving needs of the public
sector and drive sustainable growth.

 

Vin Murria OBE, Chairperson of AdvancedAdvT, commented:

"We are delighted to announce the acquisition of Goss, a recognised leader in
digital transformation in the public sector. This acquisition aligns strongly
with our strategy to invest in quality software businesses that drive
efficiency and long-term value for its customers. Goss's innovative low code
solutions and deep-rooted relationships within local government strengthen our
offering and broadens our reach. We look forward to working closely with the
Goss team to unlock value and deliver enhanced integrated solutions to a
broader client base.

 

"We continue to look for complementary acquisitions that further enhance our
offering to clients and creates value for shareholders."

 

3,225,806 new ordinary shares (the "New Shares") are to be issued as part of
the Acquisition with application to be made to trading on the AIM market of
the London Stock Exchange ("Admission"). It is expected that Admission of the
New Shares will become effective on or around 8a.m. on 2 June 2025. The New
Shares will rank pari passu with the existing ordinary shares. Following
Admission of the New Shares, the Company will have a total of 136,425,806
ordinary shares in issue. The Company does not hold ordinary shares in
treasury. Therefore, this figure may be used by shareholders as the
denominator for the calculation by which they may determine if they are
required to notify their interest in, or any change to their interest in, the
Company under the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority.

 

This announcement contains inside information for the purposes of Article 7
of EU Regulation 596/2014 as it forms part of domestic law in the United
Kingdom by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

1. Cash as at 28 May 2025

2. "EBITDA" defined as Earnings before Interest, Tax, Depreciation and
Amortisation

3. Under IFRS, the treatment of development costs are subject to
capitalisation.

 

Enquiries:

 

 AdvancedAdvT Limited
 Vin Murria, Chairperson

 Gavin Hugill, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)  Tel: 020 7496 3000
 Philip Davies / Sam Butcher

 KK Advisory (Investor Relations)                       Tel: 020 7039 1901
 Kam Bansil

 

 

Note to Editors

 

AdvancedAdvT Limited (AdvT) provides software solutions and platforms across
two business transformational areas: business solutions & healthcare
compliance, and human capital management.

 

AdvT is an agent for change. The Group enables the delivery of Artificial
Intelligence ("AI"), data analytics and business intelligence, all of which
are key future drivers for growth in these sectors where long term
digitisation trends are set to transform the workplace for professionals.

 

AdvT is developing both organically and through acquisitions, by expanding its
presence across adjacent markets, geographical boundaries and digital sectors.

 

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