RightCrowd proposes divestment of the physical security businesses for $13.5 million and repositions into the Identity and Cyber Security Markets.

• Binding Share Purchase Agreement with Bloom RC Holdings, Inc. (“Bloom”) for the sale of Workforce Access, Visitor Management and Presence Control businesses for AUD $13.5 million.

• RightCrowd to retain SaaS-based Access Analytics business.

• Bloom appointed as an Access Analytics OEM partner for physical security uses.

• Transaction subject to shareholder approval. 

Right on cue, after I sold at 2.1c for harvesting my tax loss. Oh well...

Like with @composer, I am in two minds about this investment because of underwhelming management communication.

However, the shares don't look particularly dear for the ARR growth posted, and with a couple of smart fundie backers on the register, I am leaning towards buying still.