ReadyTech (ASX:RDY) share price on watch following acquisition update

The ReadyTech Holdings Ltd (ASX: RDY) share price will be one to watch on Wednesday.

This follows the release of an announcement after the market close on Tuesday.

What did ReadyTech announce?

This afternoon the education and workforce solutions software as a service (SaaS) company announced the successful completion of its $80 million acquisition of Open Office.

Open Office is a leading government and justice case management SaaS provider with strong customer bases in Australia, the United Kingdom, and Canada.

According to the release, the acquisition of Open Office involves an upfront consideration of $54 million and an earn out consideration of up to an additional $26 million. This will be funded from the proceeds of a capital…