Knosys Limited (ASX: KNO) (“Knosys”), is pleased to announce the completion of the acquisition of LIBERO, a leading library management software provider.
Knosys, a global software-as-a-service (SaaS) information technology company offering a range of software solutions designed to boost productivity, collaboration and connectivity in the digital workplace, announced on 1 July 2021 that, on 30 June 2021, it had executed a conditional asset and share-sale agreement to acquire the LIBERO business and assets. Completion of the acquisition on 31 August 2021 follows the successful satisfaction of conditions precedent and delivery of other completion requirements under the sale agreement.
The $5 million acquisition price consisted of $4 million in cash and $1 million in fully paid Knosys shares. The cash component of the LIBERO acquisition, net of cash acquired in the LIBERO business, has been self-funded by Knosys from its cash resources. The share component has been satisfied by the issue of 6,896,551 fully paid ordinary Knosys shares at a notional issue price of 14.5 cents per share. The shares were issued within Knosys’ 15% limit under ASX LR 7.1.
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