AdvancedAdvT Limited NPV (DI) (ADVT)

Sector:

Alternative Investment Instruments

Index:

FTSE AIM All-Share

 142.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 143.22
  • 52 Week Low: 69.00
  • Currency: UK Pounds
  • Shares Issued: 133.20m
  • Volume: 33,385
  • Market Cap: £189.81m

AdvT to acquire Celaton amid robust trading

By Josh White

Date: Tuesday 07 May 2024

LONDON (ShareCast) - (Sharecast News) - Business software and solutions specialist AdvancedAdvT announced an agreement to acquire Celaton on Tuesday, in a deal valued at £5m net of cash acquired.
The AIM-traded firm said Celaton operates an intelligent document processing platform known as 'inSTREAM', leveraging machine-learning artificial intelligence (AI) technology.

It said the platform offers a suite of functionalities, including automatic data recognition, classification, validation, and enrichment, along with continual process automation using machine-learning AI algorithms and analytics.

The board said the acquisition of Celaton aligned with AdvT's existing business, particularly benefiting IBSS clients involved in end-to-end business processing, accounts payables, and sales order processing automation.

Celaton's substantial investment of £2.3m in product development over the two years preceding the acquisition resulted in advanced platform AI capabilities, improved web user interface, and multi-language support, positioning the product for expansion into adjacent markets, AdvT explained.

The firm's customers included businesses like TalkTalk, Currys and Capgemini.

In financial terms, Celaton recorded revenue of £3.3m in the 12 months ended 30 June 2023, with 80% coming from recurring subscription and transactional sources.

Celaton reported EBITDA before development costs of £1.2m in the same period, with net assets totaling £1.5m.

Completion was contingent on National Security and Investment Act approval.

"Celaton operates within a market experiencing significant rising demand for AI, automation and efficiencies," said executive chair Vin Murria.

"It will be immediately beneficial to the wider AdvT client base, with its e-invoicing, AI, document processing IP centric product."

Murria said it was "especially timely", considering the recent notice that a material alternative supplier intended to withdraw from the market, creating further immediate opportunities.

"This is a highly complementary, earning enhancing addition to the group, which will benefit from being part of a larger business."

AdvT also updated the market on its trading in the eight months ended 29 February, saying it saw robust progress across key financial metrics, driven by strong revenues and adjusted EBITDA performance, as recurring revenues continued to represent about 77% of continuing revenues.

Profit before tax was meanwhile expected to benefit from factors including the gain on the sale of Synaptic, an increase in the fair value of its investment in M&C Saatchi, and interest income.

As of the end of February, the group held net cash and investments totaling £102.9m.

At 1232 BST, shares in AdvancedAdvT were up 4.1% at 141.05p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

ADVT Market Data

Currency UK Pounds
Share Price 142.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 143.22
52 Week Low 69.00
Volume 33,385
Shares Issued 133.20m
Market Cap £189.81m

ADVT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.74% below the market average75.74% below the market average75.74% below the market average75.74% below the market average75.74% below the market average
40.35% below the sector average40.35% below the sector average40.35% below the sector average40.35% below the sector average40.35% below the sector average
Price Trend
97.56% above the market average97.56% above the market average97.56% above the market average97.56% above the market average97.56% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income Not Available
Growth Not Available

ADVT Dividends

No dividends found

Trades for 18-Jun-2024

Time Volume / Share Price
14:16 1,000 @ 143.22p
13:25 4,800 @ 141.11p
11:50 12,000 @ 140.25p
10:49 1,250 @ 143.22p
08:31 224 @ 143.22p

ADVT Key Personnel

Chair Vin Murria

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