Brief: Addnode Group Acquires Excitech

Addnode AB (publ)

16/01/2020 20:04

Jan 16 (Reuters) - Addnode Group AB (publ)  ANODb.ST :
    * GROUP ACQUIRES EXCITECH, UK LEADING PROVIDER OF BIM,
DESIGN
SOFTWARE AND SERVICES
    * AGREED PURCHASE PRICE FOR 100% OF SHARES AMOUNTS TO
APPROXIMATELY GBP 22 MILLION
    * EXCITECH WILL BE CONSOLIDATED AS PART OF ADDNODE GROUP'S
DESIGN
MANAGEMENT DIVISION
    * ACQUISITION WILL BE FINANCED THROUGH ADDNODE GROUP'S
EXISTING
CREDIT FACILITIES
    * EXISTING ACQUISITION CREDIT FACILITY HAS BEEN INCREASED BY
AN
ADDITIONAL SEK 250 MILLION TO A TOTAL OF SEK 1,000 MILLION
    * AS OF TODAY ADDNODE GROUP HAS ACQUIRED 55 PERCENT OF
SHARES IN
EXCITECH
    * DEAL INCLUDES BINDING OBLIGATION FOR CO TO ACQUIRE, AND
FOR
SELLERS TO SELL, REMAINING 45 PERCENT THROUGH COMBINED CALL AND
PUT OPTIONS

Source text for Eikon:  ID:nWkr5M1SWW 
Further company coverage:  ANODb.ST 

 ((Reuters.Briefs@thomsonreuters.com;))