Completion of Acquisition of Celaton
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Acquisition of Celaton
AdvancedAdvT Limited (AIM: ADVT, "AdvT", "the Group"), the international software solutions provider for the business solutions, healthcare compliance, and human capital management sectors has completed its acquisition of Celaton Ltd ("Celaton"), the operator of an intelligent document processing platform inSTREAM (the "Acquisition"), for cash consideration of £5.0 million net of cash acquired of £1.5m[1], initially announced on 7 May 2024.
In the 12 months ended 30 June 2023, Celaton recorded revenue of £3.3m, (80% recurring subscription/transactional) with EBITDA[2] before development costs of £1.2m[3]. As at 30 June 2023, Celaton had net assets of £1.5m.
The Acquisition was conditional upon National Security and Investment Act approval, which has been received.
Vin Murria, AdvancedAdvT's Executive Chairperson, said
"We are pleased to announce the timely completion of this acquisition, which strategically offers an improved alternative for a key supplier exiting the market. This timely move proves highly beneficial for the ADVT customer base and underscores our commitment to delivering exceptional service and value."
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