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May 7, 2025
Australian smart lock innovator TZ Limited reported strong growth in its March quarter, driven by record software as a service revenue and the acquisition of property technology company Keyvision Holdings for $4 million, according to a report by The Sydney Morning Herald.
The acquisition is expected to generate $1.6 million in annual recurring revenue within 12 months and provides cross-selling opportunities. While facing some revenue headwinds in the U.S. due to tariffs and shipping delays, the company’s other regions performed strongly, with SaaS division sales on track for a 20% year-on-year increase. TZ Limited also secured a new debt facility to reduce its existing loan.