Australia's Atturra posts record jump on enterprise resource planning firm buy

Atturra

17/01/2022 02:37

** Shares of tech services co Atturra Ltd  ATA.AX  rise as
much as 5.9% to A$0.620, sees best session since market debut on
Dec 22
    ** Co announces acquisition of Australia based Enterprise
Resource Planning (ERP) solutions provider Kettering
Professional Services Pty Ltd which furthers manages QAD Inc.
 urn:newsml:reuters.com:*:nASXc8Dqm4
    ** Deal includes upfront consideration of A$3 mln ($2.16
mln) in cash with earn-out consideration of up to A$2.25 mln of
cash subject to Kettering achieving performance goals
    ** ATA says acquisition will it a market leader in QAD ERP
solutions in Australia and will increase co's manufacturing
client base to over 50
    ** Expects that acquisition will contribute positively to co
FY22 results
    ** Stock has fallen 1.7% this year as of last close


($1 = 1.3893 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))