Video maker

Spenda Ltd (ASX:SPX) managing director Adrian Floate sits down with Proactive’s Jonathan Jackson to discuss the acquisition of Limepay Pty Ltd in an all-scrip transaction valued at up to $8 million. The acquisition involves four tranches, with the last three contingent on specific performance milestones. If these milestones are met, Spenda expects to add at least $7.2 million in Annual Recurring Revenue.Limepay, established in 2019, provides embedded finance and card-not-present payment services to more than 200 Australian businesses. The company generated $2.8 million in revenue and $1.4 million in gross profit for FY24 (unaudited). Limepay’s offerings include payment acceptance, instalment options, lending, working capital and marketplace solutions, all developed in-house with full IP ownership. The acquisition will significantly enhance Spenda’s product development capabilities through Limepay’s team of fintech developers.This strategic acquisition aims to accelerate Spenda’s current projects, expand its product suite and enter new verticals. The integration of Limepay’s technology and team is expected to improve operational efficiency and expand Spenda’s customer base, which includes key clients like Carpet Court and Capricorn. Both companies anticipate revenue-generating opportunities and economies of scale from the merged operations.Floate stated that the acquisition brought product capability, a skilled team and potential for revenue growth. The combined entity aims to enhance its market position and improve its competitive edge.#ProactiveInvestors #Spenda #ASX #Limepay #Acquisition #Fintech #Finance #SaaS #PaymentSolutions #EmbeddedFinance #BusinessGrowth #TechAcquisition #AnnualRevenue #FinancialTechnology #CorporateFinance #Investment #BusinessStrategy #MarketExpansion #RevenueGrowth #OperationalEfficiency #StrategicGrowth #Innovation#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews