Company Report
Last edited 3 years ago
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#ASX Announcements
stale
Added 3 years ago

Damstra to Acquire TIKS Solutions

Damstra today announced that it will acquire 100% of TIKS solutions which is a Sydney based workplace safety and compliance management company.

In FY 21 Damstra genarated $27.05m in revenue but still made an operating loss of $9.45m. TIKS generated $4.1m in FY21 and is operationally cash flow positive. Damstra have paid 4.4x FY21 Revenue which is less than what DTC is trading for currently at 6X FY21 Rev.

This should be a relatively straight forward bolt on to Damstra's workplace management software which should see an additional 70 clients with potential to "land and expand" as they are integrated accross.

Nice to see a cash flow positive acquisition at a reasonable price (relative to Damstra).

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