TZ Ltd secures $4 million for Keyvision acquisition

TZ Limited, a company known for its smart locker technology and data centre security solutions, has secured a $4 million loan. This funding will help it buy Keyvision Holdings, a tenant engagement platform, and pay down part of an existing loan. The acquisition deal is worth up to $10 million and will be paid over four years. It requires approval from shareholders. TZ Limited believes that acquiring Keyvision will create opportunities for cross-promotion, particularly in the educational sector in the United States. The company plans to use $2.5 million of the loan for the first payment to Keyvision. The loan comes from Causeway Finance, offering a 12% interest rate, and will also help eliminate part of TZ’s current $2.8 million debt. After this deal, TZ’s total debt will amount to $5.5 million. Keyvision's leadership is also expressing confidence in the partnership by committing to buy nearly 10% of TZ’s shares. This move aims to boost TZ’s recurring revenue, leveraging Keyvision’s projected $1.6 million annual revenue in 2025 to nearly double TZ's total earnings from recurring sources. As the property technology market evolves, TZ's acquisition of Keyvision aligns well with its goal of enhancing connections between landlords and tenants. The merger is expected to allow both companies to sell their services to each other's customers. TZ is looking to expand not only in Australia but also in international markets, especially in the U.S. education sector. It sees potential for Keyvision’s platform to be integrated into student housing and corporate environments. The overall growth strategy aims to strengthen TZ’s position in the industry and achieve significant advancements in their smart property solutions worldwide.