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Corporation
readytech.com

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Investments

1

About ReadyTech

ReadyTech provides sophisticated, yet easy to use online training software. The company designs the feature-rich solutions that global training organizations are looking for to deliver great virtual training.

ReadyTech Headquarter Location

2201 Broadway Suite 202

Oakland, California, 94612,

United States

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Latest ReadyTech News

ReadyTech (ASX:RDY) share price jumps on new acquisition

Sep 27, 2021

The deal comes approximately 6 months after ReadyTech finalised its previous acquisition. Mitchell Lawler is a site writer at The Motley Fool Australia. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey. You can view Mitchell's holdings here . Latest posts by Mitchell Lawler ( see all ) Image source: Getty Images The ReadyTech Holdings Ltd (ASX: RDY) share price is on the move on Monday. This follows the announcement of an acquisition by the ASX-listed software company. In early trade, shares are trading 3.24% higher to $3.50 apiece. What’s happening with the ReadyTech share price today? This morning the ReadyTech share price has gained momentum after its latest announcement to the market. According to the release, the company has expanded its footprint with another strategic acquisition. In a $2.2 million deal, ReadyTech has acquired specialist enterprise student management software business, Avaxa. This deal comes approximately 6 months after ReadyTech finalised its previous acquisition . Avaxa supports many of Australia’s leading enterprises, TAFE, and higher education institutions. Importantly, Chisolm Institute and Melbourne Polytechnic use the Avaxa software to manage the student journey from enquiry to graduation. This includes everything from course lifecycles and timetables to finance and compliance. Shareholders will be hoping that the Avaxa offering with its key customer integrations will benefit the ReadyTech share price. In terms of payment for the acquisition, ReadyTech will make an upfront payment of $0.7 million. From there, a maximum of $1.5 million will be in deferred consideration, consistent with a recurring revenue multiple of 2.2 times. ReadyTech will pay out the total consideration of $2.2 million from the company’s cash reserves within the next 12 months. Moreover, the integration of Avaxa is expected to deliver incremental recurring revenue in FY21 of $670,000. This will be a partial addition, beginning from October 2021. Meanwhile, earnings before interest, tax, depreciation, and amortisation (EBITDA) margins will be 15%. Management commentary Today’s announcement marks another milestone after the company hit a new 52-week high last week. Commenting on the latest acquisition, ReadyTech CEO Marc Washbourne stated: Avaxa have built deep domain and specialist expertise and exhibit strong TAFE and enterprise capability, as well as client engagement, through their existing relationship with six of Australia’s leading TAFE institutions that are supported by Avaxa’s Strata software. The acquisition is highly complementary to our education business and will allow us to leverage Avaxa’s relevant customer base and reputation in the TAFE sector to position ReadyTech as a key technology partner for enterprise education institutions. ReadyTech share price trends upwards Although ReadyTech is a small-cap company, its performance has been anything but tiny over the past year. In fact, the ReadyTech share price has far exceeded the S&P/ASX 200 Index (ASX: XJO) with a return of 78% over the past 12 months. Since reporting its FY21 result, the ReadyTech’s shares have climbed 19% in value. Should you invest $1,000 in ReadyTech right now? Before you consider ReadyTech, you'll want to hear this. Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and ReadyTech wasn't one of them. The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more. * And right now, Scott thinks there are 5 stocks that are better buys.

ReadyTech Investments

1 Investments

ReadyTech has made 1 investments. Their latest investment was in Surfly as part of their Corporate Minority on December 12, 2016.

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ReadyTech Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/8/2016

Corporate Minority

Surfly

$1.07M

Yes

2

Date

12/8/2016

Round

Corporate Minority

Company

Surfly

Amount

$1.07M

New?

Yes

Co-Investors

Sources

2

ReadyTech Acquisitions

1 Acquisition

ReadyTech acquired 1 company. Their latest acquisition was WageLink on October 12, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/12/2019

Acquired

1

Date

10/12/2019

Investment Stage

Companies

Valuation

Total Funding

Note

Acquired

Sources

1

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