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Ayima Completes Acquisition of LeapThree
Further to the announcement of 2018-07-30 informing the market of the share purchase agreement (SPA) between Ayima Group AB and the owners of LeapThree Limited, Ayima's board can today announce the acquisition has been completed with a direct issue of shares to the sellers. The total purchase price of LeapThree limited was SEK 25.23M (at current exchange rates) and the completion of the acquisition will have an immediate positive result on the balance sheet and the net profit of Ayima Group.
The addition of LeapThree limited to the Ayima Group represents the first stage of Ayima's stated goal of accelerating growth through the acquisition of other rapidly growing and innovative Digital Agencies. The deal will not only bring increased revenue growth and margin, but will provide Ayima with a new service offering, with significant opportunities to cross-sell the additional services to Ayima's existing blue-chip client base and to develop new SaaS products.
LeapThree is a specialist in the provision of Web Analytics, Data Analysis, Conversion Optimisation and Strategic Planning and it's founders, who have joined Ayima, are highly respected in the Analytics community around the world. For the full year of trading up to 2018-06-30, LeapThree had the following provisional result:
Revenue: 9.9 MSEK
EBIT: 4.6 MSEK
Revenues and profits in LeapThree are expected to grow significantly in the coming year, once efficiencies and cross-selling opportunities are fully exploited.
A direct issue of 811 462 shares, of which 784 662 are series "B "shares and 26 800 are series "A" was made at a pre-determined subscription price of SEK 25.3 which was the 15-day trading average up to 2018-07-30 as per the SPA. Following the issue, the total number of series "A" shares increased from 200 000 to 226 800 and the total number of series "B" shares increased from 5 035 000 to 5 819 662. The total issued share capital increased from SEK 5 235 000 to SEK 6 046 462. The newly issued shares are pending registration at Bolagsverket and will carry a 12 month lock-in on 45% of the total shares issues, and a 3 month lock-in on 45%. 10% of the issued shares will have no lock-in.
The issue will bring in SEK 20 529 998.6 which will be offset against the amount owing to the sellers as per the SPA. The balance of the debt to the sellers was settled by a cash transfer in the amount of approx SEK 4 695 630.
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