The Synapse acquisition of Clearview is in its closing stages, with the deal set to be done before the end of the month.
Being a SaaS (Software as a Service) model, Management believes the deal will mark a significant increase in valuation of circa 2-3x, giving new shareholders maximum value in a very short space of time.
The deal means Synapse will add another 45 long-term blue-chip customers to its business, tripling its current client-base, doubling existing revenues and reducing overhead by circa £200k per annum.
With revenues of over £6 million since 2014, Synapse has created and is successfully selling a scalable SaaS product, which allows large companies to use their existing financial reporting systems, whilst automating report production – reducing operational costs, and improving data quality.
Synapse Founder and CEO, Brian Donnelly, believes the acquisition of Clearview will fast-track the company’s plans to scale and attract Series A funding later this year.
A small number of shares are still available for Synapse, but the imminent Clearview deal will end the current funding round by the end of this month and mark a clear uplift in the current valuation.
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