Asure Software Acquires Legiant for $4M, Raises 2012 Guidance

Asure Software, Inc. ASURannounced today that it has acquired Legiant, an Austin, Texas-based provider of cloud computing time and attendance software and management services. On December 14, 2011 Asure entered into an asset purchase agreement to acquire Legiant for $4 million, comprised primarily of $1.2 million cash paid at closing, a $1.8 million seller's note, $0.5 million in assumed debt, $0.25 million in cash acquired as part of the acquisition, and $0.25 million in a short term note due in January, 2012.