Brief: Itway To Sell Turkish And Greek Cyber Security Product VAD Units To Cognosec

Itway SpA

04/04/2018 15:39

April 4 (Reuters) - Itway Spa  ITWY.MI :
    * SIGNS EXCLUSIVE AGREEMENT WITH COGNOSEC TO SELL TURKISH AND GREEK CYBER SECURITY PRODUCT
VALUE
ADDED DISTRIBUTORS
    * SIGNS TERMS OF AGREEMENT FOR SALE TO COGNOSEC OF 100% OF ITWAY HELLAS SL SA & ITWAY
TURKYIE LTD
    * TOTAL CONSIDERATION PAYABLE BY COGNOSEC FOR TRANSACTION WILL BE EUR 10 MILLION
    * CONSIDERATION WILL CONSIST OF EUR 2 MILLION IN CASH AND EUR 8 MILLION IN COGNOSEC NEWLY
ISSUED
SHARES
    * SALE OF VALUE ADDED DISTRIBUTION BUSINESSES IN GREECE AND TURKEY COMPLETES DIVESTMENT OF
VAD
BUSINESSES
    * TRANSACTION IS EXPECTED TO CLOSE IN Q2

Source text for Eikon:  ID:nBIAbvs5kC 
Further company coverage:  ITWY.MI 

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