Tribal Group Plc (TRB.L), a provider of software and services for education management, announced Monday that it has acquired Callista Software Services Pty Ltd, a provider of student management systems to the Australian university market. Total consideration for the entire issued share capital is A$3.6 million, payable in cash in equal instalments over a three year period.
The acquisition is expected to be earnings accretive in its first full year.
Based in Geelong and Melbourne, Australia, Callista provides its software to 25% of Australian universities. The Callista student management system is a mature software product, and the business benefits from long-standing relationships with its customers.
Tribal said the acquisition provides support for the existing Callista software platform over an initial seven year period, and the opportunity for members of the customer base to migrate to the current Tribal university software platform over time.
The transaction will also offer synergistic benefits through sharing of intellectual property, know-how and resources in combination with Tribal's existing Australian business.
In London, Tribal shares were trading at 185.12 pence, up 0.61 percent.
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