TIDMSAAS

RNS Number : 3103Z

Microlise Group PLC

11 January 2024

11 January 2024

Microlise Group plc

("Microlise", "the Group" or "the Company")

Completion of Acquisition Enterprise Software Systems

Microlise Group plc (AIM: SAAS), has completed the acquisition of the entire issued share capital of Enterprise Software Systems (ESS).

On 30 November 2023, the Company announced it had entered into an agreement for a maximum consideration of GBP8.5m in cash, funded by the Company's cash reserves.

For the 12 months to 31 August 2023, ESS generated revenues of approximately GBP5.1m and adjusted EBITDA of GBP1m, with approximately 75 per cent of the revenue being recurring, based on long-term contracts.

The acquisition was conditional upon no objections being raised by the UK Competition and Markets Authority ("CMA"), who have now confirmed no further information is required at this stage.

Nadeem Raza, CEO of Microlise, commented: "The acquisition showcases our commitment to strengthening our TMS offering, which we will now be able to provide to businesses of all sizes. ESS immediately increases our recurring revenues, enhances our earnings, and will provide numerous upsell and cross-sell opportunities. We look forward to updating the market on progress in this respect and on the integration of ESS into the wider Group."

The Company will release a trading update for the year ended 31 December 2023 on Tuesday 30 January 2024.

For further information, please contact:

Microlise Group plc

Nadeem Raza, CEO

Nick Wightman, CFO C/O SEC Newgate

Singer Capital Markets (Nominated Adviser & Broker)

   Steve Pearce / James Moat / Harry Gooden                        Tel: 020 7496 3000

SEC Newgate (Financial PR)

   Bob Huxford / Molly Gretton / Harry Handyside                                Tel: 020 3757 6880

Email: microlise@secnewgate.co.uk

About Microlise

Microlise Group Plc is a leading provider of transport management software to fleet operators helping them to improve efficiency, safety, and reduce emissions. These improvements are delivered through reduced fuel use, reduced mileage travelled, improved driver performance, fewer accidents, elimination of paperwork and delivery of an enhanced customer experience.

Established in 1982, Microlise is an award-winning business with over 400 enterprise clients. With 463 employees based at the Group's headquarters in Nottingham in the UK, the Company also has offices in France, Australia, and India, with a total global staff base of over 670.

Microlise is listed on the AIM market of the London Stock Exchange (AIM: SAAS) and qualifies for the London Stock Exchange's Green Economy Mark.

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January 11, 2024 02:00 ET (07:00 GMT)

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