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Tesserent - Proposed acquisition of Asta Solutions

1 Video - Jul 2018


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Summary - 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.

All Videos for Tesserent - Proposed acquisition of Asta Solutions

Summary

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.

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