Brief: Karnov Group Acquires Norwegian Knowledge Workflow Tool Supplier DIBkunnskap

Karnov AB (publ)

14/12/2020 07:05

Dec 14 (Reuters) - Karnov Group AB (publ)  KARNO.ST :
    * KARNOV GROUP ACQUIRES MARKET LEADING NORWEGIAN KNOWLEDGE
WORKFLOW TOOL SUPPLIER DIBKUNNSKAP AS
    * KARNOV GROUP ACQUIRES MARKET LEADING NORWEGIAN KNOWLEDGE
WORKFLOW TOOL SUPPLIER DIBKUNNSKAP AS
    * HAS TODAY SIGNED AGREEMENT TO ACQUIRE 100% OF SHARES IN
MARKET
LEADING NORWEGIAN KNOWLEDGE WORKFLOW SOLUTIONS SUPPLIER
DIBKUNNSKAP AS (DIB)
    * ACQUISITION IS IN LINE WITH KARNOV GROUP'S STRATEGY TO
CARRY OUT
SELECTIVE AND VALUE ACCRETIVE ACQUISITIONS AND IS EXPECTED TO BE
EPS ACCRETIVE FROM 2022
    * TRANSACTION IS EXPECTED TO CLOSE ON 5(TH) OF JANUARY 2021.
    * TRANSACTION IS EXPECTED TO HAVE NEUTRAL IMPACT ON EPS IN
2021
AND BE VALUE ACCRETIVE FROM 2022
    * ACQUISITION IS ASSESSED TO HAVE A MINOR DILUTIVE IMPACT ON
KARNOV GROUP'S ADJUSTED EBITA MARGIN FOR 2021
    * ACQUIRES DIB ON A CASH AND DEBT FREE BASIS FOR A TOTAL
PURCHASE
PRICE OF NOK 300M, APPROXIMATELY NOK 290M IN CASH CONSIDERATION
AND NOK 10M IN SHARES IN KARNOV GROUP
    * AN EARN-OUT OF MAXIMUM NOK 36M CAN BE PAID OUT IN SHARES
DEPENDENT ON FINANCIAL PERFORMANCE IN 2021 AND 2022

Source text for Eikon:  ID:nWkrbjcKDJ 
Further company coverage:  KARNO.ST 

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