Solteq Oyj — M&A Activity 2021

Mar 1, 2021

Solteq Plc acquires Partiture’s professional services business specialized in the utilities sector

Solteq Plc acquires Partiture’s professional services business specialized in the utilities sector

Stock Exchange Bulletin
March 1, 2021 at 08:00 a.m.
Solteq Plc has today signed a business transfer agreement, whereby Partiture
Oy’s professional services business, along with its current employees and
customers, will be transferred to Solteq. The agreement is effective as of March
1, 2021. Partiture Oy is Finland’s leading consulting and project management
company in the energy sector. Utilities sector is one of the Solteq’s key
drivers for growth in the Nordics, where digital disruption has placed digital
solutions at the core of companies’ strategies. As a result of the business
transfer agreement, 16 experts will be transferred to Solteq from Partiture Oy.
The debt-free purchase price of the transfer is EUR 2.35 million.
The business acquisition supports expansion of Solteq’s Utilities portfolio into
consulting and professional services. Starting from the beginning of March,
Solteq Utilities Consulting business unit will provide tools for strategic and
data-driven business development to all utilities sector customers. Also, a more
profound industry expertise will help Solteq to develop its utilities software
to meet the changing customer needs in the future.
Approximately EUR 350,000 of the business acquisition purchase price will be
paid with new Solteq shares, based on theauthorization given to the Board, by
the General Meeting on June 10, 2020. The rest of the purchase price will be
paid with existing cash funds. EUR 1.0 million of the purchase price has been
paid at the time of signing the agreement, and the rest will be paid on December
15, 2021.

The subscription price of the shares is determined on the basis of the volume
-weighted average price in February 2021. A maximum of 100,000 shares will be
issued, and the number of the new shares will not exceed 0.52% of the total
number of shares after the share issue. A directed share issue will be carried
out, deviating from the shareholders’ pre-emptive subscription right, by around
March 10, 2021. Partiture Oy has the right to exercise shareholders’ rights in
the company once the shares have been registered in the Trade Register. The new
shares will be included in the book-entry system maintained by Euroclear Finland
Oy, and an application will be made to submit them for public trading on Nasdaq
Helsinki. The shares are subject to a transfer restriction of 24 months, and the
seller will pledge the shares received in the transfer for 24 months as security
for the liabilities in the deed of sale.
In 2020, the revenue of the acquired professional service business was
approximately EUR 2.35 million (2019: approximately 2.0) and the result
approximately EUR 0.8 million (2019: approximately 0.7).

Distribution
NASDAQ OMX Helsinki
Key media
www.solteq.com (https://investors.solteq.com/)
Further information
CEO Olli Väätäinen
Tel: +358 50 557 8111
E-mail: olli.vaatainen@solteq.com

CFO Kari Lehtosalo
Tel: +358 40 701 0338
E-mail: kari.lehtosalo@solteq.com
About Solteq:

Solteq is a Nordic provider of IT services and software solutions specializing
in the digitalization of business and industry-specific software. The key
sectors in which the company has long term experience include retail, industry,
energy and services. The company operates in Finland, Sweden, Norway, Denmark,
Poland and the UK and employs 600 professionals.

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