ReadyTech Holdings (ASX:RDY) has recently advanced its higher education growth strategy with a number of prominent customer wins including Avondale University, University of Adelaide Professional and Continuing Education (PACE) and English Language Centre (ELC), and a large TEQSA- accredited membership-based organisation that delivers post-graduate courses to its members and the public.
These higher education wins are a clear demonstration of ReadyTech’s deep investment, extensive experience, and true partnership model in advancing technology to support tertiary education institutions across Australia.
In particular, the partnership with Avondale University marks a significant milestone in the higher education sector, as ReadyTech's first institution-wide university contract for student management.
With these wins, ReadyTech is now able to tap into a substantially broadened addressable market that includes major higher education institutions and universities, complementing the vocational and TAFE growth strategy and supporting long-term growth.
"We are experiencing strong tailwinds in the higher education sector driven by a growing demand for cloud solutions, innovative learning models, and a digital-first student experience.” Marc Washbourne, ReadyTech’s Co-Founder and CEO, said.
“Institutions are increasingly embracing these advancements to meet the evolving expectations of modern students, ensuring they are equipped with the skills and flexibility needed to thrive in a dynamic world," he said.
In addition to these customer wins, ReadyTech has also successfully completed the acquisition of Silverband, an Australian EdTech company that is home to the Paradigm Education Management System. The Paradigm product currently services a large number of higher education providers across Australia, and with their deep domain expertise, will support the acceleration of ReadyTech’s higher education roadmap.
“The Silverband team has deep domain expertise and an impressive reputation for customer service in the higher education sector. We look forward to welcoming the Silverband team to ReadyTech, and working together to support more higher education providers around Australia now and into the future,” Mr Washbourne said.
The total deal value of the above sits at $3.3 million with 50% of revenue to be recognised in FY25.
