- Newly merged Ansarada Group (AND) has seen its shares soar upon recommending trade on the Australian Securities Exchange
- Formally thedocyard (TDY), the company acquired Ansarada early this year and recapitalised via the issue of $45 million worth of shares
- The merged software as a service provider is headquartered in Sydney with offices in five other countries and more than 140 full-time employees
- Upon recommencing trade, shares have been trading 689.47 per cent higher at $1.50
Newly merged Ansarada Group (AND) has seen its shares soar upon recommending trade on the Australian Securities Exchange.
Formally thedocyard (TDY), the company acquired Ansarada NewCo earlier this month and renamed the entity Ansarada Group.
The company also completed a capital raise, netting $45 million through the issued of 30.4 million shares at $1.48 per share.
The merged software as a service provider is headquartered in Sydney with offices in Chicago, London, Amsterdam, Johannesburg and Ho Chi Minh City and more than 140 full-time employees.
In the 2020 Financial Year, the companies had a combined proforma revenue of $34 million.
Ansarada Group CEO Sam Riley said thedocyard and Ansarada shared a similar vision, making the merger a sensical step forward.
“Leveraging the natural synergies between our SaaS products helps us solve more information governance challenges from different customer angles: thedocyard brings strong advisor workflow technology, while Ansarada is deeply embedded with leading advisory firms and corporate customers across the globe.”
“We will be focused on becoming the information governance platform that company boards, management teams and advisors rely on to be confident in decisions and managing critical outcomes.”
Upon recommencing trade, shares have been trading 689.47 per cent higher at $1.50 at 2:47 pm AEDT.