Tialis Essential IT PLC (AIM:TIA) agreed to acquire Profitable partner contracts of Allvotec from Allvotec Limited for approximately £2.1 million on December 20, 2022. The consideration consists of £2 million to be paid at completion and the balance £0.1 million to be paid on a deferred basis, subject to certain performance conditions being met by February 2025. All consideration will be paid in shares of Tialis.

Matthew Riley, the Founder and Chairman of Daisy will join the Board of Tialis as a Non-executive Director upon completion. 140 staff of Allvotec will transfer to Tialis to ensure the smooth transfer and execution of the contracts. The transaction is expected to complete January 31, 2023.

Jonny Franklin-Adams and Abby Kelly of finnCap Ltd acted as the financial advisor to Tialis Essential IT PLC (AIM:TIA).