Jefferies says ReadyTech's Avaxa deal to add to revenue, profit

Readytech Holdings

27/09/2021 20:51

** Brokerage Jefferies says Australia's ReadyTech Holdings'
 RDY.AX  acquisition of Avaxa could be "significantly accretive"
in the medium term to both revenue and earnings 
    ** RDY soared to a record high of A$3.58 on Monday, climbing
as much as 5.6%
    ** Software-as-a-Service (SaaS) company ReadyTech announces
its A$2.2 million ($1.60 million) acquisition of student
management software co Avaxa  urn:newsml:reuters.com:*:nASXbS1Cm3 
    ** Jefferies ("buy"; PT: A$3.30) says Avaxa brings customers
across several of RDY's target education markets, including
universities and private institutions
    ** Several of Avaxa's customers have been using the product
for about 10 years
    ** All four analysts covering the stock rate it "buy" or
higher; their median PT is A$3.53 – Refinitiv Eikon data 
    ** RDY up 70.81% this year, as of Monday's close 
  

($1 = 1.3778 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))