Atturra Limited (ASX:ATA) executed a share purchase agreement to acquire Kettering Professional Services Pty Ltd for AUD 5.3 million on January 17, 2022. Under the terms, Atturra will pay upfront consideration of AUD 3 million in cash and with earn-out consideration of up to AUD 2.25 million in cash subject to Kettering achieving performance hurdles based on audited EBIT targets for FY22, FY23 and FY24. The consideration will be funded from internal cash reserves. The transaction is subject to the satisfaction of conditions precedent in agreement, including the parties obtaining change of control consents required under Kettering's contracts and Rob Cheesman entering into an executive services agreement. As of February 24, 2022, majority of conditions precedent have been completed. The transaction is scheduled to complete on March 1, 2022. The contribution of Kettering acquisition is accretive to the prospectus forecast and Atturra expects that the acquisition will contribute positively to FY22 results. Graeme McKellar and Lisa McKellar of Clairfield International acted as financial advisor to Kettering Professional Services Pty Ltd.

Atturra Limited (ASX:ATA) completed the acquisition of Kettering Professional Services Pty Ltd on March 1, 2022.