Brief: Arribatec To Acquire IB Marine Group

Arribatec ASA

18/11/2020 08:03

Nov 18 (Reuters) - Arribatec Solutions ASA  ARRI.OL :
    * ARRIBATEC TO ACQUIRE LEADING INTERNATIONAL EAM PROVIDER IB
MARINE GROUP
    * ARRIBATEC TO ACQUIRE LEADING INTERNATIONAL EAM PROVIDER IB
MARINE GROUP
    * UNIT HAS ENTERED INTO AGREEMENTS TO SECURE AN OPTION TO
ACQUIRE
IB MARINE GROUP
    * TOTAL ACQUISITION COST IS EXPECTED TO EUR 1.6 MILLION
    * ITALIAN-BASED IB MARINE GROUP HAS OVER 60 CUSTOMERS IN 11
COUNTRIES WITH 10.000 USERS AND AN EXPECTED TURNOVER OF AROUND
EUR 6 MILLION IN 2020
    * ARRIBATEC AND IB MARINE GROUP EXPECTS PROFORMA REVENUES IN
RANGE
OF NOK 350 MILLION IN 2020, WITH ANNUAL RECURRING REVENUES OF
37% AND A POSITIVE ADJUSTED EBITDA
    * OPTION TO ACQUIRE IB MARINE GROUP CAN BE EXERCISED BY
ARRIBATEC
BETWEEN 15 DECEMBER 2020 AND 15 JANUARY 2021
    * POTENTIAL CLOSING WILL TAKE PLACE IN JANUARY 2021

Source text for Eikon:  ID:nObi7xPSHa 
Further company coverage:  ARRI.OL 

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