Melbourne, Australia, 25 November 2022 : AD1 Holdings Limited (‘AD1’, the ‘Company’ or the ‘Group’) (ASX: AD1), a technology company with a growing portfolio of market-leading software businesses, provides the following update in relation to the proposed transaction to acquire SaaS talent acquisition software provider, Scout Talent Group (STG) as announced on 30 August 2022 (Proposed Transaction).
AD1 Holdings advises that due to volatile market conditions and the requirements of relevant parties, in the circumstances it is not able to complete the transaction under the current terms of the Share Sale Agreement in the agreed timeframe. Both parties have agreed to put the transaction on hold and revisit the transaction in February 2023.
Whilst AD1 and STG are disappointed with the outcome of the Proposed Transaction, both parties used their best endeavours to complete the transaction and we look forward to revisiting the transaction with Scout Talent Group.
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