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Novatti Group - Acquisition of leading South East Asian fintech


Highlights

-- Novatti to acquire Malaysia payments fintech ATX - recognised as a top 50 rising startup in South East Asia
-- Large established payments network, including 30k+ touch points across Malaysia
-- Revenue circa $3m and EBITDA circa $0.6m (normalised figures)
-- Valuation multiple of 2.8X normalised annual revenue
-- Minimum $8.4m acquisition price, by way of cash and Novatti shares
-- Enables Novatti to scale the existing ATX business, introduce additional Novatti services, such as billing, and further expand across South East Asia

Novatti Group Limited (ASX:NOV) (Novatti or Company), a leading fintech that enables businesses to pay and be paid, is pleased to announce that it will acquire ATX, a leading South East Asian payments fintech, based in Malaysia.

Founded in 2011, ATX provides traditional retail stores and kiosks with digital payment services, such as third party bill and product payments. It has also been recognised as a top 50 rising startup in South East Asia.

For more information, download the attached PDF.

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