RDY +3.38%: announced a small bolt-on acquisition to bolster their workforce management side of the business today. They’ll pay $2.1m upfront for recruitment SaaS business PheonixHRIS, valuing it at a 2.7x EV/Revenue including the full earn out. It adds a new element to their all-in-one HR offering with the new tech easily integrated to Readytech’s current system, it should be an easy upsell for existing clients.
MM is bullish RDY – a candidate for the Emerging Companies Portfolio
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