Brief: Formpipe Acquires British Co EFS For GBP 6 Mln

Lasernet AB

06/07/2020 07:47

July 6 (Reuters) - FormPipe Software AB  FPIP.ST :
    * FORMPIPE ACQUIRES THE BRITISH COMPANY EFS
    * EFS REVENUE FOR 2019 AMOUNTED TO GBP 3.4 MILLION
    * ACQUIRES 100% OF SHARES IN EFS
    * PURCHASE PRICE AMOUNTS TO GBP 6 MILLION (EQUIVALENT TO AN
ESTIMATED ENTERPRISE VALUE OF APPROXIMATELY GBP 5 MILLION)
    * ACQUISITION IS EXPECTED TO BE COMPLETED BY JULY 31
    * EFS'S TURNOVER FOR FINANCIAL YEAR 2019 AMOUNTED TO GBP 3.4
MILLION
    * ACQUISITION IS EXPECTED TO HAVE SOME POSITIVE IMPACT ON
FORMPIPE'S EARNINGS PER SHARE FOR 2020 FINANCIAL YEAR AND WILL
FULLY CONTRIBUTE TO OPERATIONS FROM 2021
    * PURCHASE PRICE IS PAID IN CONNECTION WITH TAKEOVER AND IS
FINANCED THROUGH A COMBINATION OF OWN CASH AND LOANS

Source text for Eikon:  ID:nGNE431glt 
Further company coverage:  FPIP.ST 

 (Gdansk Newsroom)
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