Brief: eEducation Albert Acquires Sumdog

eEducation Albert AB

24/02/2022 06:05

Feb 24 (Reuters) - eEducation Albert AB  ALBERT.ST :
    * ALBERT STRENGTHENS ITS POSITION IN THE UK AND EXPANDS WITH
B2B
OFFERING THROUGH ACQUISITION OF SUMDOG LTD
    * THROUGH ACQUISITION, ALBERT COMPLEMENTS ITS OFFER IN B2C
WITH A
WELL-ESTABLISHED B2B SERVICE AND STRENGTHENS ITS POSITION IN
BRITISH MARKET
    * SUMDOG HAD SALES OF 2.6 MGBP WITH AN ADJUSTED GROSS MARGIN
OF 88
PERCENT IN 2021
    * PURCHASE PRICE INITIALLY AMOUNTS TO 6.85 MGBP WITH A
POSSIBLE
ADDITIONAL PURCHASE PRICE OF A MAXIMUM OF 2 MGBP DURING
2022-2023
    * TOTAL PURCHASE PRICE AMOUNTS TO A MAXIMUM OF 8.85 MGBP, OF
WHICH
INITIAL PURCHASE PRICE AMOUNTS TO 6.85 MGBP
    * ADDITIONAL PURCHASE PRICE OF A MAXIMUM OF 2 MGBP IS
REGULATED
DURING 2022-2023 LINKED TO GROWTH IN ANNUAL RECURRING INCOME
(ARR)
    * IN ORDER FOR MAXIMUM ADDITIONAL PURCHASE PRICE TO BE PAID,
AN
ARR OF 4.5 MGBP IS REQUIRED BY END OF 2023

Source text for Eikon:  ID:nMFN3LV5b9 
Further company coverage:  ALBERT.ST 

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