Brief: Innofactor Acquires Invenco

Innofactor Oyj

20/06/2022 06:39

June 20 (Reuters) - Innofactor Plc  IFA1V.HE :
    * INNOFACTOR ACQUIRES INVENCO, A FINNISH COMPANY SPECIALIZED IN DATA AND ANALYTICS SOLUTIONS
    * PLANNED CLOSING DATE OF TRANSACTION IS JUNE 30, 2022.
    * INNOFACTOR PLC HAS SIGNED AN AGREEMENT ON JUNE 20, 2022, ON ACQUIRING ENTIRE SHARE CAPITAL
OF
PRIVATELY OWNED INVENCO LTD
    * PURCHASE PRICE (ENTERPRISE VALUE, EV) CONSISTS OF A FIXED PURCHASE PRICE OF EUR 3.0
MILLION AND
AN ADDITIONAL PURCHASE PRICE TIED TO THREE YEARS' REVENUE GROWTH, WHICH IS AT MAXIMUM EUR 3.75
MILLION
    * TRANSACTION WILL BE FINANCED WITH INNOFACTOR'S CASH FUNDS AND BANK FINANCING.
    * INNOFACTOR'S OBJECTIVE GOING FORWARD IS TO GROW INVENCO'S REVENUE AND IMPROVE ITS
PROFITABILITY
BY MEANS OF SYNERGY BENEFITS.
    * INVENCO LTD'S NET SALES IN LAST FISCAL YEAR (JULY 1, 2020 - JUNE 30, 2021) WERE
APPROXIMATELY
EUR 6.2 MILLION

Source text for Eikon:  ID:nGNEgFFYR 
Further company coverage:  IFA1V.HE 

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