Australia's Readytech Holdings jumps on acquiring peer IT Vision

Readytech Holdings

16/06/2022 02:23

** Shares of software firm Readytech Holdings Ltd  RDY.AX 
rise as much as 5.1% to A$2.700, their best day since June 8, if
gains hold 
    ** Co acquires software solutions provider IT Vision for
A$23.1 mln ($16.22 mln) using a combination of 50% cash and
scrip each  urn:newsml:reuters.com:*:nASX4YvzCT
    ** Says upfront cash funding requirement of A$11.55 mln will
be funded via additional debt from existing facilities
    ** Says deal will be earnings per share accretive in FY22 on
a pro-forma basis before synergies and excluding integrations
costs 
    ** RDY hits highest level since June 10 
    ** Stock down 34.1% this year as of last close 


($1 = 1.4239 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))