Proposed acquisition of Asta Solutions
Tesserent Limited (ASX: TNT) has announced its signing of a binding-terms sheet (subject to various conditions precedent) to acquire Asta Solutions Pty Ltd (‘Asta’). An Australian-based business, Asta has more than 200 clients, serviced by 85+ staff located in Melbourne, Sydney and Auckland. Asta has signiﬁcant expertise in a number of areas important to Tesserent’s strategy, including cloud technologies, managed services and the development of blockchain applications. The cost of the acquisition – 4 x FY18 EBITDA – is expected to result in a purchase price of $3.8 million, which will be met through a combination of shares and cash.