Education software company LiveTiles raises AU$12m and lists via reverse takeover
Summary
Cloud-based education software provider, LiveTiles has listed on the Australian Securities Exchange (ASX) after a successful capital raising of AU$12 million. The listing follows a reverse takeover in April of Perth-based Modun Resources, a company which was previously involved in the acquisition, development, and mining of thermal and coking coal deposits in Mongolia. "Our core product is an add-on software tool to Microsoft SharePoint, which has an estimated 200 million users, so we have a very large addressable market to pursue. In August, LiveTiles completed the sale of the Nuurst coal asset it acquired as part of the Modun transaction, which generated approximately AU$2 million in net earnings. Since April, LiveTiles said it has added 43 new commercial customers including European football governing body UEFA, Pepsico, and the Canadian Olympic Committee.
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