SRJ Technologies Group plc (ASX:SRJ) executed a share purchase agreement to acquire STATS (UK) Ltd on December 14, 2021. The consideration payable by the Company to STATS shareholders will comprise a combination of SRJ shares and cash. The transaction has an implied value of approximately AUD 133.8 million based on a share price of SRJ of AUD 0.50 per share. STATS generated revenue of AUD 78.9 million and EBITDA of AUD 11.3 million in FY2020. SRJ Technologies is undertaking a raise AUD 142 million to fund the purchase price for STATS and also provide working capital for the Combined Group. Leigh Howarth, the current CEO of STATS to be appointed as an Executive Director of SRJ Technologies. The transaction is subject to the satisfaction of certain closing conditions and is expected in the first quarter of calendar year 2022. As of February 4, 2022, SRJ has announced that it is temporarily delaying the capital raise of AUS 142 million to fund the acquisition of STATS (UK) Limited and provide additional working capital for the combined group.

SRJ Technologies Group plc (ASX:SRJ) cancelled the acquisition of STATS (UK) Ltd on May 2, 2022.