Australia's ReadyTech Holdings sees best day in over 2 weeks on Open Windows deal

Readytech Holdings

17/12/2021 04:12

** Shares of software co ReadyTech Holdings  RDY.AX  rise as
much as 5.1% to A$3.740, marking their best intraday session
since Nov 30
    ** ReadyTech announces https://www.asx.com.au/asxpdf/20211217/pdf/4548knkg3888j2.pdf
 acquisition of contract management software provider Open
Windows Software Pty Ltd of total consideration of up to A$14.3
mln ($10.25 mln)        
    ** Says deal will enhance co's local and state government
product-market fit and cross-sell to a broad range of its
customer base 
    ** Expects deal to deliver recurring revenue of A$1.5 mln in
FY22 and an EBITDA margin of 16% (before projected transaction
and integration costs)
    ** Stock up ~70.3% this year, as of last close 
    
    ($1 = 1.3951 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))