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M&A Activity • Jan 4, 2023
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M&A Activity
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News Details
Ad-hoc | 4 January 2023 00:23
Allterco JSCo acquires 60% of Slovenian IoT provider GOAP d.o.o.
Allterco JSCo / Key word(s): Investment
Allterco JSCo acquires 60% of Slovenian IoT provider GOAP d.o.o.
04-Jan-2023 / 00:23 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Allterco JSCo acquires 60% of Slovenian IoT provider GOAP d.o.o.
Sofia / Munich, 03 January 2023 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“ Allterco ”) has announced the closing today of the 1 st stage of the acquisition of the Slovenian IoT provider GOAP Računalniški inženiring in avtomatizacija procesov d.o.o. (“ GOAP ” or the “ Target Company ”) which consisted in the acquisition of 60% of the share capital of the Target Company. The transaction is based on Share Purchase Agreements (“ SPAs ”) that were signed today with all four GOAP shareholders. The total purchase price for the 1 st stage transactions is EUR 2 million.
The remaining 40% of GOAPs share capital belonging to three individual shareholders of GOAP are subject to an Option Agreement that was signed together with the SPAs. Under the Option Agreement Allterco will have unconditional call options and the selling shareholders will have conditional put options on two packages of shares (the exercise of each of the sellers’ options is conditional upon the achievement of certain minimum criteria of KPI, EBITDA and revenue within the period 2023 – 2025). One option amounts to 16% of GOAPs share capital and the other option amounts to 24% of GOAPs share capital. The aggregate price for the shares in case of the exercise of the options depends on the extent to which the conditions therefore are met and may range from EUR 699,999.70 (BGN 1,369,080.41) to EUR 3,449,998.60 (BGN 6,747,610.76).
The transactions are executed in compliance with the resolution of the General Meeting of the Shareholders of Allterco from December 2022.
With the acquisition, Allterco intends to expand its technology portfolio and thus extend its product offering for both customers and professional users.
For further information, please visit allterco.com .
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04-Jan-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Allterco JSCo |
| 103 Cherny Vrah Bldv | |
| 1407 Sofia | |
| Bulgaria | |
| E-mail: | [email protected] |
| Internet: | www.allterco.com |
| ISIN: | BG1100003166 |
| WKN: | A2DGX9 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin |
| EQS News ID: | 1526649 |
| End of Announcement | EQS News Service |