LiveTiles to snap up European digital workplace software company

Company News

by Anna Napoli

Global software company, LiveTiles (ASX:LVT) is set to snap up leading European digital workplace software company, Wizdom.

Consideration for the deal is made up of a base valuation and earn out, with an aggregate purchase price cap of EUR 30 million.

Wizdom has annualized recurring revenue (ARR) of $8 million and is earnings and cash flow positive. The acquisition will add 35 per cent to LiveTiles ARR.

LiveTiles is launching a placement of shares to institutional and other sophisticated investors to fund the purchase, and, for working capital purchases.

Shares in LiveTiles (ASX:LVT) are currently in a trading halt and last traded at 40 cents.

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