Tesserent Limited (ASX:TNT) signed a Share Purchase Agreements to acquire Pearson Corporation Pty Ltd for an enterprise value of AUD 28.8 million on December 7, 2021. The consideration will be a mix of cash and TNT shares being paid in two instalments, with 50% of the enterprise value being paid on completion as cash AUD 8.64 million and issue of 33.9 million shares at AUD 0.175 per share for a total of AUD 5.92 million and the remaining 50%, AUD 14.24 million, to be paid on finalization of audited accounts estimated to be in September 2022 consisting of 60% cash and 40% share. In a related transaction, Tesserent Limited signed Share Purchase Agreements to acquire Claricent Pty Ltd for an enterprise value of AUD 4.13 million. These acquired businesses will immediately integrate into Tesserent's North Security business which leads TNT's Federal Government team. The transaction is financed from the capital raise undertaken by TNT in September 2021. The transaction is expected to close in December 2021. The transaction is immediately earnings, cashflow and EPS accretive whilst delivering significant locked-in recurring revenue with six months results consolidated into Tesserent's financials for FY22, year ending on June 30, 2022.

Tesserent Limited (ASX:TNT) completed the acquisition of The Pearson Corporation Pty Ltd on December 23, 2021.