LONDON: AdvancedAdvT Limited (AIM: ADVT), an international software solutions provider, announced Tuesday the acquisition of Goss Technology Group Limited, a digital transformation specialist for the public sector, in a deal worth approximately £13.5 million.
The total consideration includes £8.5 million in cash from existing resources and £5.0 million in AdvT ordinary shares. After accounting for £6.4 million in cash acquired, the net consideration amounts to approximately £7.1 million. The deal received approval under the U.K.’s National Security and Investment Act.
In its audited financial year ending June 30, 2024, Goss reported revenue of £5.35 million, with 71% classified as recurring. Its EBITDA, excluding capitalized development costs, was £0.77 million, with net assets totaling £3.25 million.
The acquisition strengthens AdvT’s presence in the public sector by adding Goss’s low-code digital solutions to its portfolio. The move is expected to enhance integration across AdvT’s enterprise software offerings and drive long-term growth through SaaS-based revenues.
Vin Murria OBE, chairperson of AdvancedAdvT, said the deal aligns with the company’s strategy to invest in software businesses that improve efficiency and customer value. “Goss’s innovative solutions and strong government relationships broaden our reach,” Murria said. “We look forward to unlocking further value for clients and shareholders.”
The acquisition comes amid structural changes in U.K. local government, including council consolidations and increased demand for digital transformation. Goss’s technology facilitates data flow between front-end interfaces and internal systems, supporting automation and streamlined public service delivery.
AdvT said it continues to seek complementary acquisitions to expand its client offerings.