Brief: Norbit To Broaden Product Offering In Oceans Through Acquisition

Norbit ASA

04/09/2023 07:06

Sept 4 (Reuters) - Norbit ASA  NORBT.OL :
    * NORBIT TO BROADEN THE PRODUCT OFFERING IN OCEANS THROUGH
AN
ACQUISITION
    * NORBIT ANNOUNCES AN ADD-ON ACQUISITION OF CANADIAN
MARITIME
TECHNOLOGY COMPANY PING DSP
    * TARGET COMPANY IS VALUED AT USD 3.24 MILLION ON A CASH AND
DEBT-FREE BASIS
    * ACQUISITION IS TO BE FINANCED 70 PER CENT BY CASH AND 30
PER
CENT AS A PRIVATE PLACEMENT TO SELLERS OF TARGET COMPANY
    * CLOSING IS EXPECTED TO TAKE PLACE END OF SEPTEMBER

Source text for Eikon:  ID:nGNE6ZbkMY 
Further company coverage:  NORBT.OL 

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