Brief: Qt Acquires froglogic GmbH In Germany

Qt Oyj

13/04/2021 14:37

April 13 (Reuters) - Qt Group Oyj  QTCOM.HE :
    * QT STRENGTHENS ITS MARKET LEADER POSITION WITH ACQUISITION
OF
FROGLOGIC GMBH
    * IN NAME OF ITS OPERATIVE SUBSIDIARY QT COMPANY, SIGNED AN
AGREEMENT TO ACQUIRE ALL SHARES IN GERMANY-BASED FROGLOGIC GMBH
    * PURCHASE PRICE IS EUR 30 MILLION, WHICH OF EUR 24 MILLION
WILL
BE PAID IN CASH AND EUR 6 MILLION WITH QT GROUP'S SHARES
    * PARTIES HAVE AGREED ON AN EARN-OUT STRUCTURE WITH A
MAXIMUM
AMOUNT OF EUR 5 MILLION TO BE PAYABLE AS EARN OUT CONDITIONAL
UPON GROWTH OF FROGLOGIC'S PRODUCTS' REVENUE DURING TIME PERIOD
2021-2023

Source text for Eikon:  ID:nWkr5zzB40 
Further company coverage:  QTCOM.HE 

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