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M&A Activity • Feb 26, 2019
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M&A Activity
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News Details
Ad-hoc | 26 February 2019 21:41
blockescence plc: Majority acquisition of ReachHero GmbH
blockescence plc / Key word(s): Takeover
blockescence plc: Majority acquisition of ReachHero GmbH
26-Feb-2019 / 21:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Disclosure of inside information according to Article 17 of Regulation (EU) No. 596/2014 26 February 2019
blockescence plc: Majority acquisition of ReachHero GmbH
Valletta, 26 February 2019: blockescence plc (Security Identification Number WKN: MT0000580101; symbol: BCK, “blockescence”) successfully acquires 67.4% of the shares in the influencer and social media specialist ReachHero GmbH. ReachHero has a leading platform solution for influencers and advertisers in Europe. After the acquisitions of the Mediakraft Group and adspree media GmbH by Gamigo AG – a portfolio company of blockescene – another media asset is supplementing the Group portfolio in the B2B area. The purchase price payment is covered by shares of blockescence plc to be newly issued and a cash component. The number of shares will be issued in line with potential purchase price adjustments. The new shares will be subject to a lock-up period of six respectively twelve months. The founders will retain a stake in ReachHero and will continue to manage the company..
The ReachHero acquisition is expected to lead to an additional revenue contribution in the mid single-digit million euro range at blockescence group level in 2019, which will be supported by synergies with the media and gaming companies also belonging to the group. A positive EBITDA by ReachHero is expected for the current year.
The purchase price is in the mid single-digit million range plus earn out. The parties have agreed to not disclose the exact amount of the purchase price.
Information and Explanation of the Issuer to this News:
About blockescence plc:
blockescence is a strategic investment holding company which focuses on a buy, build and sell strategy of fast-growing companies in consolidating TMT sectors. The blockescence portfolio companies are growing through acquisitions and organic growth. New technologies are proactively used to create USPs and efficiencies within the portfolio companies. An example is the implementation and rollout of the distributed ledger technology (DLT or blockchain technology) to secure a competitive edge for the portfolio companies. blockescence has its registered office in Valletta (Malta), with subsidiaries in Switzerland and Germany, and is listed on the Frankfurt Stock Exchange as well as on XETRA.
For further information, please contact:
edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
Tel. +49(0) 69/905505-52
Email: [email protected]
Issuer
blockescence plc
St. Christopher Street 168
Valletta VLT 1467
Malta
Email: [email protected]
Website: www.blockescence.com
26-Feb-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | blockescence plc |
| St. Christopher Street 168 | |
| VLT 1467 Valletta | |
| Malta | |
| Phone: | +356 21 22 7553 |
| Fax: | +356 21 22 7667 |
| E-mail: | [email protected] |
| Internet: | www.blockescence.com |
| ISIN: | MT0000580101 |
| WKN: | A1JGT0 |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Basic Board); Malta |
| End of Announcement | DGAP News Service |