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TZ LIMITED — M&A Activity 2025
Jan 5, 2025
65975_rns_2025-01-05_4b6f1fc3-3f98-45ed-9154-e263517aaa45.pdf
M&A Activity
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Level 2, 40 Gloucester Street The Rocks NSW 2000 Australia Telephone (+61) 2 9053 6753
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TZ Limited
ABN 26 073 979 272
6 January 2025
ASX Announcement
Update on Keyvision Acquisition
Further to our announcement regarding the proposed acquisition of Keyvision Holdings Pty Limited dated 21 October 2024, despite efforts to complete the transaction prior to 31 December 2024, TZ Limited (“ TZL ” or the “ Company ”) is now expecting to complete final due diligence this month and conclude the acquisition by the end of January 2025. The extension of the completion deadline has been agreed by both parties.
Based on the due diligence undertaken to date, there is nothing that would suggest that the transaction as outlined in the Heads of Agreement will not proceed to conclusion. The delays have been unavoidable due to the time involved in preparing, receiving and reviewing Keyvision financial, commercial and technical information and the inevitable impact of the Christmas holiday break.
The Company can also confirm that based on new contract wins, Keyvision is well on track to meet and potentially exceed its first 12-month revenue target post-acquisition.
This announcement is authorised for release by TZ Limited’s Board of Directors.
For further information, please contact:
Peter Graham Chairman TZ Limited Telephone (+61) 412 225 616
About TZ Limited
At TZ, we create solutions that can manage assets effectively or manage space and utility effectively, i.e. Smart Lockers for IT Asset Management, Smart Lockers for Package Asset Management, and secure Personal Employee Storage Solutions.
We develop end-to-end integrated solutions that are dynamic and help companies manage secure access, optimise workflows and productivity for their mobile workforce. Our ability to support individual preferences and practices and enable the collective workspace environment are underpinning deliverables in our solutions, that ensure flexibility for the User and drive a unique and enhanced User experience.