Brief: Netmore Divests M2M Business To Melita

Netmore AB

26/01/2023 13:37

Jan 26 (Reuters) - Netmore Group AB  NETMb.ST :
    * NETMORE DIVESTS M2M BUSINESS TO TELECOM AND IOT OPERATOR
MELITA
    * MALTESE TELECOM AND IOT OPERATOR MELITA LTD (MELITA) IS
ACQUIRING NETMORE GROUP'S WHOLLY OWNED SUBSIDIARY NETMORE M2M AB
(NETMORE M2M)
    * INITIAL CASH PURCHASE PRICE OF EUR 1.75 MILLION
(APPROXIMATELY
SEK 19.6 MILLION), PLUS A CONDITIONAL ADDITIONAL CASH PURCHASE
PRICE OF UP TO A FURTHER EUR 2.6 MILLION (APPROXIMATELY SEK 29
MILLION)
    * PARTIES HAVE ENTERED INTO AN AGREEMENT ON 26 JANUARY 2023
AND
CLOSING WILL TAKE PLACE IMMEDIATELY
    * ADDITIONAL CASH PURCHASE PRICE WILL BE CALCULATED BASED ON
EBITDA OF NETMORE M2M IN 2023 (ADDITIONAL PURCHASE PRICE 1) AND
FIRST HALF OF 2024 (ADDITIONAL PURCHASE PRICE 2)

Source text for Eikon:  ID:nWkr4z0HbP 
Further company coverage:  NETMb.ST 
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