Australia's Tesserent jumps on acquiring two peer companies

Tesserent

07/12/2021 24:38

** Shares of IT security services provider Tesserent
 TNT.AX  rise as much as 15% to A$0.173, post their biggest
intraday percentage gain since Sept. 14 
    ** Co announces https://www.asx.com.au/asxpdf/20211207/pdf/453wcwy8mpgygl.pdf
 acquisitions of peer IT firms Pearson Corp and Claricent  
    ** Says acquisitions will deliver FY22 revenue of A$24.3 mln
($17.11 mln) and sustainable EBITDA of A$5.6 mln 
    ** Says acquisitions, which will consist a mix of cash and
TNT shares, will be immediately earnings and EPS-accretive 
    ** Stock down 55.2% this year, as of last close

($1 = 1.4205 Australian dollars)

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