REG - Microlise Group PLC - Completed Acquisition Enterprise Software Systems

MicroliseAnnouncement

11/01/2024 07:00

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RNS Number : 3103Z  Microlise Group PLC  11 January 2024

11 January 2024

 

Microlise Group plc

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

 

Completion of Acquisition Enterprise Software Systems

 

Microlise Group plc (AIM: SAAS), has completed the acquisition of the entire
issued share capital of Enterprise Software Systems (ESS).

 

On 30 November 2023, the Company announced it had entered into an agreement
for a maximum consideration of £8.5m in cash, funded by the Company's cash
reserves.

 

For the 12 months to 31 August 2023, ESS generated revenues of approximately
£5.1m and adjusted EBITDA of £1m, with approximately 75 per cent of the
revenue being recurring, based on long-term contracts.

 

The acquisition was conditional upon no objections being raised by the UK
Competition and Markets Authority ("CMA"), who have now confirmed no further
information is required at this stage.

 

Nadeem Raza, CEO of Microlise, commented: "The acquisition showcases our
commitment to strengthening our TMS offering, which we will now be able to
provide to businesses of all sizes. ESS immediately increases our recurring
revenues, enhances our earnings, and will provide numerous upsell and
cross-sell opportunities. We look forward to updating the market on progress
in this respect and on the integration of ESS into the wider Group."

 

The Company will release a trading update for the year ended 31 December 2023
on Tuesday 30 January 2024.

 

For further information, please contact:

 

Microlise Group plc

Nadeem Raza, CEO

Nick Wightman,
CFO
C/O SEC Newgate

 

Singer Capital Markets (Nominated Adviser & Broker)

Steve Pearce / James Moat / Harry
Gooden                        Tel: 020 7496 3000

 

SEC Newgate (Financial PR)

Bob Huxford / Molly Gretton / Harry
Handyside                                Tel:
020 3757 6880

Email: microlise@secnewgate.co.uk (mailto:microlise@secnewgate.co.uk)

 

About Microlise

Microlise Group Plc is a leading provider of transport management software to
fleet operators helping them to improve efficiency, safety, and reduce
emissions. These improvements are delivered through reduced fuel use, reduced
mileage travelled, improved driver performance, fewer accidents, elimination
of paperwork and delivery of an enhanced customer experience.

 

Established in 1982, Microlise is an award-winning business with over 400
enterprise clients. With 463 employees based at the Group's headquarters in
Nottingham in the UK, the Company also has offices in France, Australia, and
India, with a total global staff base of over 670.

Microlise is listed on the AIM market of the London Stock Exchange (AIM: SAAS)
and qualifies for the London Stock Exchange's Green Economy Mark.

 

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