Brief: Norbit To Buy Business And Assets From IoT Company Stalkit

Norbit ASA

08/03/2021 07:06

March 8 (Reuters) - Norbit ASA  NORBIT.OL :
    * REG-NORBIT STRENGTHENS ITS POSITION WITHIN ASSET TRACKING
THROUGH IOT ACQUISITION
    * REG-NORBIT STRENGTHENS ITS POSITION WITHIN ASSET TRACKING
THROUGH IOT ACQUISITION
    * ANNOUNCES AN AGREEMENT FOR ACQUISITION OF BUSINESS AND
ASSETS
FROM NORWEGIAN IOT COMPANY STALKIT AND ASSOCIATED COMPANIES.
    * PART OF TRANSACTION, NORBIT WILL IN ADDITION TO
TECHNOLOGY,
CUSTOMER BASE AND RUNNING BUSINESS ALSO ASSUME OWNERSHIP OF A
SPANISH LEGAL ENTITY
    * STALKIT BUSINESS WILL BE INTEGRATED IN NORBIT'S BUSINESS
SEGMENT
ITS.
    * NORBIT ASA - IS EXPECTED TO BE FINANCED BY USE OF NORBIT'S
AVAILABLE CREDIT LINES
    * CLOSING IS EXPECTED TO TAKE PLACE DURING MARCH 2021.

Source text for Eikon:  ID:nGNE70ZYs9 
Further company coverage:  NORBIT.OL 

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