TZ Limited secures debt facility, finalizes Keyvision acquisition

SYDNEY: TZ Limited, a leading provider of smart locker and access control solutions, announced on March 18, 2025, that it has finalized the acquisition of Keyvision Holdings Pty Ltd, a prominent tenant engagement platform provider.

The deal, valued at up to $10 million, is contingent on shareholder approval and will be paid over four years based on Keyvision achieving agreed revenue and growth milestones.

The acquisition is part of TZ’s strategy to expand its presence in the high-growth tenant engagement and smart building technology market. The company has secured a $4 million senior secured debt facility from Causeway Finance to fund the initial payment, ensuring a non-dilutive funding structure. TZ’s total debt post-acquisition will be $5.5 million, including a $1.5 million debenture with First Samuel.

Keyvision’s principal, Mark Davis, and senior management will acquire 9.5% of TZ shares from First Samuel, with the shares voluntarily escrowed for three years. This move underscores Keyvision’s confidence in the future growth of the combined business.

The acquisition is expected to enhance TZ’s recurring revenue streams, which currently exceed $5 million annually, and unlock significant cross-selling opportunities for TZ’s smart locker and access control solutions. The integration of Keyvision’s tenant engagement platform with TZ’s existing technology is anticipated to position the company as a market leader in integrated access control and tenant engagement solutions.

Strategic Expansion and Market Growth

The property sector is undergoing significant digital transformation, with increasing demand for tenant-focused applications that improve engagement and operational efficiency. The growing need for seamless parcel management and secure access control has driven the adoption of smart locker and access solutions, particularly as online shopping and last-mile logistics continue to expand.

TZ’s acquisition of Keyvision aligns with broader trends in the property technology (PropTech) sector, which is expected to exceed $86 billion globally by 2032. The combined offering of TZ’s hardware and Keyvision’s software creates a scalable, technology-driven solution for smart buildings, enhancing customer retention and strengthening long-term commercial contracts.

The acquisition also presents significant opportunities for TZ to expand internationally. The company has a strong presence in the U.S. educational sector, where its smart locker solutions are widely deployed across universities and corporate campuses. This provides a natural entry point for Keyvision’s tenant engagement platform in student housing, faculty offices, and shared spaces.

Additionally, TZ has established connections in Singapore’s property sector, where its smart access and storage solutions are integrated into major commercial and residential developments. The ability to offer a combined smart locker and tenant engagement solution positions TZ to further penetrate this market.

Keyvision’s recent contract with One Hotels, which includes the rollout of its tenant app capabilities in Melbourne and Miami, serves as a launchpad for further deployments across TZ’s international network.

TZ CEO John Wilson expressed enthusiasm about the acquisition, stating, “We are excited to have finalized the acquisition of Keyvision and are now focused on embedding the business into TZ’s operations. This marks a significant milestone in our strategy to expand our technology solutions and drive new revenue streams.”

Keyvision CEO Mark Davis added, “We see enormous opportunities in the combined business and are pleased to be part of this next chapter with TZ. The ability to integrate our tenant engagement solutions with TZ’s global smart locker infrastructure creates a compelling value proposition for the property sector.”

The completion of the acquisition is conditional upon shareholder approval. TZ Limited will convene an Extraordinary General Meeting (EGM) to seek shareholder approval, as Keyvision will be provided as security under the debt facility arranged to fund the transaction. Further details regarding the timing and agenda of the EGM will be provided to the market once finalized.