Nice bolt-on acquisition. Lifts 'look through' EBITDA to $4.4m.
More interestingly, it adds to modules they can sell from 7 to 9 & also adds 300 clients with limited cross-over. So the client foot-print lifts to over 700 which increases the cross-selling opportunity.
With strong revenue growth, net cash of $16m & high cash conversion, a interesting SaaS play. Bit like a Xero for HR software
