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Ansarada Group Ltd

Ansarada (AND) SaaS Solution for Keeping the Deal on Foot

687 Views02 Apr 2021 00:29
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SUMMARY

Ansarada Group Ltd (ASX:AND) is a global provider of cloud-based SaaS-information governance solutions for corporates, investment banks and advisory firms. The company came about as a result of a merger between ASX-listed thedocyard and privately held Ansarada NEWCO Pty Ltd. The merger resulted in an additional $45m being raised at $1.48/share to give a market capitalisation of $131.3m to the merged group on relisting in December 2020. Proceeds from the merger raise were applied to the following: $21m to redeem Ansarada’s convertible notes, $3.5m to product design and development, $4.0m to sales and marketing, $0.5m to integration costs, $5.7m on transaction costs and $10.3m in additional working capital. The combined group brought together thedocyard’s transaction management platform and recently acquired Athena Board, a secure document creation and sharing platform for boards, with Ansarada’s AI-powered virtual data room (VDR) platform, and tenders and compliance platform which provides enterprises with a single engine room to manage and measure the quality of their information within a compliance regime. Ansarada is debt free with $21m in cash available for growth opportunities.

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