Brief: Relatech To Buy 60% Of Mediatech

Relatech SPA

03/06/2020 08:11

June 3 (Reuters) - Relatech SpA  RLT.MI :
    * TO BUY 60% OF MEDIATECH
    * PAYMENT OF 33% CONSIDERATION IN RELATECH SHARES
    * TRANSACTION CONCLUDED FOR A CONSIDERATION OF APPROXIMATELY
EURO
1.5 MILLION (FOR 60% OF THE EQUITY INVESTMENT)
    * TRANSACTION PROVIDES FOR PAYMENT AT CLOSING OF A CASH
COMPONENT
OF APPROXIMATELY EURO 1 MILLION, EXCEPT FOR ADJUSTMENT IN
RELATION TO EFFECTIVE NET FINANCIAL POSITION AT TRANSFER DATE OF
INVESTMENTS
    * MEDIATECH IS A COMPANY SPECIALIZED IN CLOUD SOLUTIONS AND
SERVICES
    * CLOSING OF TRANSACTION IS EXPECTED BY JUNE 23
    * TRANSACTION PROVIDES FOR A COMPONENT IN KIND THROUGH SALE
OF A
TOTAL OF 70,175 RELATECH SHARES CONVENTIONALLY VALUED AT AN
AMOUNT OF EURO 7.13 EACH
    * EARN-OUT COMPONENT TO BE DETERMINED ACCORDING TO
ACHIEVEMENT OF
CERTAIN PERFORMANCE PARAMETERS (AVERAGE EBITDA) OF MEDIATECH IN
FINANCIAL YEARS UP TO 2022
    * ACQUIRED TECHNOLOGICAL PARTNERSHIP WITH NUTANIX

Source text for Eikon:  urn:newsml:reuters.com:*:nBIAt8WDk
Further company coverage:  RLT.MI 

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