Kurs & Likviditet
Beskrivning
Land | Norge |
---|---|
Lista | OB Match |
Sektor | Informationsteknik |
Industri | Elektronisk utrustning |
2020-11-03 12:09:14
OSE NOTIFICATION ARRIBATEC ACQUIRES INNIT AS HIGHLIGHTS • Arribatec AS, a subsidiary of Arribatec Solutions ASA has entered into a share purchase agreement related to the acquisition of 100% of the shares in Innit AS • The transaction will be settled for a fixed net purchase price of NOK 52,3 million, plus 5,647,200 shares in Arribatec at a subscription price of NOK 1.50 per share. Oslo, Norway, 3 November 2020) Arribatec Solutions ASA (OSE: ARR) today announces the acquisition by Arribatec AS of Innit AS as part of the strategy of creating a leading Solution as a Service (SolaaS) company through organic growth and accretive acquisitions. “We are pleased to welcome the Innit team to Arribatec with their complementary expertise, services and solutions. Innit has a proven Hybrid and Public Cloud platform already operational for more than 100 customers, which is essential for delivering on our strategy of delivering best-in-class Solution as a Service. The acquisition is also an important milestone in our strategy of creating a leading SolaaS company through accretive M&A initiatives and accelerated organic growth, “says Per Ronny Stav, Chief Executive Officer of Arribatec. Arribatec has entered into a share purchase agreement related to the acquisition of 100% of the shares in Innit for a net fixed purchase price of NOK 52,3 million, plus 5,647,200 shares in Arribatec at a subscription price of NOK 1.50 per share ex dividend. Innit, headquartered in Hamar, Norway, was founded in 2001 and has 60 employees distributed over 4 offices in Norway. The company has shown the ability to combine strong growth with positive operational margin and has over the past two years increased sales by 80% combined. Expected turnover for 2020 is NOK 75 million and with an EBITDA of NOK 5 million. The company helps customers to discover, create and take care of digital business opportunities by using modern DevOps frameworks. Through a combination of Hybrid and Public Cloud, Innit offers a well proven IT and development platform to deliver high quality services to more than 100 customers in Norway. The core capabilities of Innit includes IT operation, Cloud, security, backup, support, SLA, SPoC, Azure/AWS/Google and interdisciplinary work with development (DevOps). Their specialties are related to basic IT operation, Cloud, security, backup, Support, SLA, SPoC, Azure/AWS/Google and interdisciplinary work with development (DevOps). The highly skilled development team delivers creative services, custom development, apps and integrations for digitally mature organizations. “Arribatec and Innit will jointly deliver a unique set of software and infrastructure, implemented and integrated as a service, to generate long-term recurring revenue for the company. We look forward to work with the Innit management and team to leverage on the opportunities ahead, “Stav concludes. The management team of Innit will continue with the company having agreed to a 18,5% cash payment for their shareholding and an 81,5% conversion to shares with a lock-up of 18, 30 and 42 months in line with the rest of the key resources in Arribatec. The purchase price for 100 % of the shares in Innit will be settled in cash and shares in Arribatec Solutions ASA. The closing of the transaction is subject to: (i) completion of a due diligence review of the Innit group without Arribatec AS identifying any material findings, (ii) Arribatec AS has entered into share purchase agreements for all shares held by the minority shareholders in Innit Drift AS (1,3%) and Innit Utvikling AS (2,1%) and the conditions of closing of such agreements have been fulfilled (the remaining shares in such companies are held by Innit AS), (iii) and certain other customary conditions, including certain third-party consents. The transaction is not subject to any regulatory approvals. Closing is expected to take place on or about 30th of November 2020. The Innit group will divest certain non-core assets to its majority shareholder prior to closing. For additional information, please contact: Per Ronny Stav, CEO, Arribatec Solutions ASA: +47 994 42 378 Martin Nes, Chairman of the Board, Arribatec Solutions ASA: +47 920 14 814 About Arribatec | www.arribatec.com Arribatec is a software and consulting company headquartered in Oslo. With a customer centric engagement model, combined with a deep system, integration and domain competence, Arribatec builds long term strategic partnership with a broad customer base. Arribatec serves more than 200 large entities spread over 20 countries and various industries, both in the private and public sector. The company employs over 110 people with offices in 8 countries and is listed on the Oslo Stock Exchange under the ticker code ARR. About Innit | www.innit.no Innit, headquartered in Hamar, Norway, was founded in 2001 and has 60 employees distributed over 4 offices in Norway. The company helps customers to discover, create and take care of digital business opportunities by using modern DevOps frameworks. Through a combination of Hybrid and public Cloud; Innit offers a well proven IT and development platform to deliver high quality services to more than 100 customers in Norway. Their specialties are related to basic IT operation, Cloud, security, backup, Support, SLA, SPoC, Azure/AWS/Google and interdisciplinary work with development (DevOps).