Asure Software, Inc. (ASUR)

[HokieHead]

Looking to add, nice news today. Total debt (was) $120m, revenues ~$90m. Will be pretty much debt free, $115m market cap, 15m OS, 11m float traded today, nice SS. 52 highs + coming imo.

Shares of Asure Software Inc. (ASUR) rose more than 20% in early trading Tuesday after the company said it agreed to sell its workspace-management business for $120 million in cash.

The Austin, Texas, software company said it plans to use the proceeds to repay most of its debt, and said it will focus on its human capital management solutions.

Asure is selling the business to FM:Systems, a privately held company backed by private-equity firm Accel-KKR.

“This transaction bolsters Asure’s capital structure as we plan to pay down the majority of our debt. It also increases our mix of recurring revenue to over 90%. While we plan to focus on organic growth with the help of upsell and cross-sell initiatives, we will also be in a strong position to pursue accretive acquisitions. Furthermore, the transaction will be attractive from a tax perspective for our shareholders,” concluded Goepel.