Bigtincan Holdings Limited Acquires SalesDirector.ai
Bigtincan Holdings Limited a global software company providing a leading AI-powered sales enablement automation platform, is pleased to announce the completion of the tech-focused strategic... |…
Sydney, Australia (ABN Newswire) - Bigtincan Holdings Limited (ASX:BTH) (OTCMKTS:BGTHF) a global software company providing a leading AI-powered sales enablement automation platform, is pleased to announce the completion of the tech-focused strategic acquisition of SalesDirector.ai, a leading revenue intelligence and data platform provider, by its wholly owned US subsidiary, BTC Mobility, LLC. The SalesDirector.ai technology links people, activity and engagement across the buyer's journey to derive insights, including opportunity risk and relationship strength, and then makes intelligent recommendations. By capturing all sales, marketing, and customer success activity the technology drives actionable revenue insights required to make the right business decisions.
Combining SalesDirector.ai technology with Bigtincan's existing content, engagement and relationship analytics enhances Bigtincan's AI-powered insights capabilities to drive guided selling and improve forecasting accuracy. The SalesDirector.ai team brings over 30 years of experience in revenue intelligence and AI-driven technologies, and provides the opportunity for Bigtincan to expand into revenue intelligence which is forecasted to be a significant part of the US$4B Sales Analytics market by 2025. "Every organisation has to be more productive," said David Keane, CEO and Co-Founder of Bigtincan.
"With the Sales Enablement market shifting towards a more holistic approach encompassing Revenue Enablement, we can deliver more value to our customers by providing full-cycle sellers with AI-driven recommendations on the next best actions, based on intelligent sales analytics from SalesDirector.ai." Consideration Consideration for the acquisition (US$1.2m) is a combination of cash and equity which consists of: - a cash payment of US$800k at Closing (subject to adjustment for transaction expenses, cash balances and indebtedness); and - the issue of fully paid ordinary shares in Bigtincan at $0.535 per share based on the price per share as at the close of 23 December 2022, with a value of US$400,711. The initial cash component of the acquisition was fully funded from cash reserves raised through the institutional placement completed in December 2022. The share component of the consideration was issued to employee shareholders of SalesDirector with ~50% subject to voluntary escrow restrictions for 12 months and the balance unrestricted.
In addition, one shareholder, who is not an employee, received unrestricted shares. The shares were issued within Bigtincan's issuing capacity under ASX Listing Rule 7.1. The acquisition is not expected to have a material impact on Bigtincan revenue or costs in FY23.