INVL Technology — M&A Activity 2015

Apr 7, 2015

Disclosure 323282

INVL Technology - Notification on material event

INVL Technology group will acquire 80 per cent shares in Etronika, UAB

Vilnius, Lithuania, 2015-04-07 08:07 CEST (GLOBE NEWSWIRE) -- Norway Registers Development AS (NRD AS), owned by ICT investment company INVL Technology, AB signed an agreement regarding investments into Etronika, UAB, a company which develops IT solutions for electronic banking, mobile signature and retail. NRD AS, which is situated in Norway, plans to participate in the new share issue of Etronika, UAB and acquire 80 per cent in Etronika, UAB shares. Total amount of investments, including loans to Etronika, UAB, will amount up to EUR 400 thousand. Deal closing is subject to permissions of Lithuanian Competition council and Commission on assessment of potential participants compliance with national security interests. In 2014 Etronika, UAB revenues amounted to EUR 1.9 million, company employs more than 40 people. The person authorized to provide additional information: Kazimieras Tonkūnas Director E-mail: k.tonkunas@invltechnology.lt