ReadyTech seeks scale via M&A; Corrs on the tools
Summary
Left at the altar by private equity two years ago, it seems ASX-listed ReadyTech is doing just fine. Street Talk can reveal the $400 million education and workforce software group is in advanced discussions to acquire two trade players. Sources said the targets each made under $5 million revenue – small fry compared to the $103 million ReadyTech reported in 2023 – but were of strategic value to the company. Law firm Corrs Chambers Westgarth is understood to be advising ReadyTech boss Marc Washbourne and chief financial officer Nimesh Shah. ReadyTech, which sells education, payroll and administration software, was the subject of a $4.50 a share bid – a 40 per cent premium to the last close – from Pacific Equity Partners in 2022 that was eventually withdrawn.
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