ReadyTech Holdings (ASX:RDY) agreed to acquire CouncilWise for up to AU$8 million, according to a Tuesday filing with the Australian bourse.
CouncilWise, a property and rating platform serving 35 local councils with property and revenue management solutions, will add to ReadyTech's government and justice segment, increasing its local council relationships to over 280, the filing said.
The deal, consisting of AU$4 million in upfront payment and up to AU$4 million in deferred consideration, will strengthen ReadyTech's property and rates engine and expand its local government customer base, the filing added.
The company said the deal, which is expected to be completed in mid-February 2025, will not have an impact on fiscal 2025 earnings and revenue.
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