AND on 13 October 2021 that the Company has signed a binding agreement to acquire 100% of the shares in TriLine GRC with completion expected on 29 October 2021. 

The key points announced by the Company in reference to this agreement are;

• TriLine GRC is market-leading governance, risk and compliance SaaS company with customers in Australia, New Zealand, UK and Ireland.
• End-to-end GRC solution with ten additional modules added to Ansarada's platform to accelerate growth in the GRC's AU$52.5 billion addressable market.
• FY 21 Revenue of $2.2m, profitable and cash flow positive. 147% sales growth over the last five years.
• Significant scope to grow TriLine client base and cross-sell solutions across extended client base with 10% of customer base common to both companies.
• AU$5.2 million purchase price funded from cash - indicates 2.3 EV/ LTM revenue. The acquisition is earnings accretive in a year.

Today, the Company informed that it is now strongly positioned at the forefront of this adoption curve, which enables it to more rapidly capture a greater share of the AU$52.5 billion GRC market opportunity.