Nuvini Group Limited (NVNI), an operator of B2B software companies, Monday announced that it has agreed to acquire a 51 percent controlling interest in Target, the American subsidiary of Beyondsoft Corporation, a Chinese IT consulting and technology services firm, for a total consideration of around $80.7 million.
As per the company, the transaction is expected to be immediately accretive to Nuvini's revenue, earnings, and EBITDA margins based on pro forma estimates.
Nuvini anticipates this deal to create cross selling synergies and expands Target's sales operations for clients from Brazil into the North American market, while leveraging a unified workforce of over 1,000 employees.
Further, the B2B software firm surmises the combined entity to bring together Nuvini's portfolio of SaaS companies serving over 22,400 customers with Target 's enterprise IT consulting practice, which serves 30 plus major blue-chip clients in the United States.
The transaction represents Nuvini's largest and most strategic acquisition to date, creating a combined technology platform with expected revenues for FY 2025 of approximately $148 million on a pro forma combined basis, the company said in a statement.
As per the agreement, the total consideration of around $80.7 million implies an enterprise value of approximately $158 million, or 1.4 times 2025 revenues with the consideration being paid in two equal instalments with 50 percent of the total amount due on or before December 31 and the remaining 50 percent due on or before December 31, 2029.
Beyondsoft Corporation will retain a 49 percent minority stake in the unit Target.
The transaction is expected to close by July.
Currently, NVNI shares are trading at $1.03, down 34.39% on the Nasdaq.
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