SYDNEY, AUSTRALIA: Motio Limited (ASX: MXO) has acquired 100% of UK based Liquid Thinking Limited (owner of the Spawtz Software operated in Australia by Motio under license) which additionally operates through licensees in South Africa and New Zealand, a bourse submitting noted.
Liquid Thinking’s portfolio of customers and technology focusses on delivering end-to-end participant registration, competitors administration and funds for Indoor Sports Centres, Sporting Associations and Leagues throughout the UK, Australia, South Africa and New Zealand.
Its primary income is recurring Software as a Service (SaaS) and rising income through charges from facilitating on-line and cashless payments.
Liquid Thinking’s software program is used extensively throughout these rising environments encompassing greater than 900 venues and interacting with over 750,000 gamers throughout the aforementioned markets. The acquisition of Liquid Thinking will present Motio with persevering with alternative to deepen its capabilities in Australia and broaden its footprint throughout key markets, particularly the UK and New Zealand.
The acquisition serves as a highly effective and significant change in its management inside indoor sports activities throughout Australia providing a suite of choices for operators because it continues its driving force as an Audience Experience and Digital Place-Based media company.
Motio has efficiently represented the Spawtz software program inside these environments for a variety of years (previously as Adline Media previous to Motio’s acquisition in January 2020) and has a strong working relationship with Liquid Thinking.
Together, the businesses have continued to function and develop a rising funds business inside the sports activities and team environments.
Michael Johnstone, Chief Operating Officer Motio said, “Some might say this acquisition was inevitable given the long-term commercial relationship Motio has with Liquid Thinking and the apparent profit that the acquisition provides in phrases of margin flow through. Furthering our relationship with Liquid Thinking to a administration and management role along with our existing collaborative strength under one roof, albeit it from the UK, provides a fresh new set of opportunities. We are enthusiastic about the expansion possibilities that this acquisition presents in Australia and worldwide markets”.
Matthew Davies, Managing Director, Liquid Thinking, said, “We’ve labored collectively for a very very lengthy time and since working closely with MJ, Adam, Brett and the team, Australia has become our most profitable market. Liquid Thinking is a small team doing nice work and I’m actually proud of what we have achieved. The subsequent phase is equally thrilling for us. The Liquid Thinking team are nice at what we do, and Motio have labored so positively with us over the years that it already feels like we’re a half of the team, prepared to mix our disciplines and proceed to transform Spawtz”.
Acquisition Material Terms
Motio has entered right into a binding settlement to purchase all of the issued capital of Liquid Thinking on the subsequent materials terms:
– AUD$375,000 money (funded through Motio’s existing money reserves);
– Up to 4,125,000 ordinary shares comprised:
o 3,750,000 shares issued upon completion (escrowed for 12 months from date of completion) at a deemed issue price of $0.10 per share issued pursuant to Motio’s existing ASX Listing Rule 7.1 capacity; and
o 375,000 shares if, inside the occasion the MXO 30-day VWAP is lower than or equal to $0.09 per share inside 60 days of completion issued pursuant to Motio’s existing ASX Listing Rule 7.1 capability (escrowed for 12 months from date of completion).
Up to AUD$600,000 in money or shares at Motio’s option (issued pursuant to Motio’s existing ASX Listing Rule 7.1 capacity) throughout three tranches.
www.motio.com.au