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StrongPoint
M&A Activity • Oct 31, 2023
3767_rns_2023-10-31_ae68121d-5e76-477e-b55a-b333429fb88f.pdf
M&A Activity
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StrongPoint ASA: Acquisition of Brand ID Hamari Group Oy completed
31.10.2023 19:06:06 CET | StrongPoint | Non-regulatory press releases
Reference is made to the stock exchange notice of 3 July 2023 regarding StrongPoint ASA's ("StrongPoint") planned acquisition of 100% of the shares in Brand ID Hamari Group Oy ("Hamari"). The acquisition has been successfully completed today.
Hamari is a retail technology solutions company based in Finland and was established in 2006. Hamari provides services and installation to retailers and grocery retailers, predominantly electronic shelf labels from Pricer AB.
The estimated purchase price is EUR 300,000, with potential customary closing balance sheet adjustments. The purchase price has been settled 47% in cash and 53% in shares in StrongPoint ("Consideration Shares"), with a possible extra earnout of up to EUR 150,000 based on conditions related to financial performance for the fiscal years 2023 and 2024. The Consideration Shares are funded by treasury shares and are subject to a two-year lock-up period from closing.
For further information, please contact:
Jacob Tveraabak, CEO StrongPoint ASA, +47 908 21 370, [email protected]
Marius Drefvelin, CFO StrongPoint ASA, +47 958 956 90, [email protected]
About StrongPoint
StrongPoint is a grocery retail technology company that provides solutions to make shops smarter, shopping experiences better, and online grocery shopping more efficient. With over 500 employees in Norway, Sweden, the Baltics, Spain, the UK and Ireland, StrongPoint supports grocery and retail businesses in more than 20 countries. StrongPoint is headquartered in Norway and listed on the Oslo Stock Exchange with a revenue of approximately 1.4bn NOK [ticker: STRO].
About Brand ID Hamari Group
Hamari Group was founded in 2006 and is a reseller of Pricer, Whywaste and Strongbyte Solutions Ltd (VoCoVo) solutions in Finland. The company has 6 employees and the annual revenue in 2022 was EUR1.5 million.