Brief: SideTrade Acquires Amalto For $16 Mln

SideTrade SA

12/04/2021 06:31

April 12 (Reuters) - SIDETRADE SA  ALBFR.PA :
    * SIDETRADE ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE AMALTO
    * SIDETRADE ACQUIRES 100% OF AMALTO FOR $16M
    * THIS ACQUISITION IS A MAJOR MILESTONE IN SIDETRADE'S
FUSION100
STRATEGIC PLAN, WHICH AIMS TO REACH $100M IN REVENUE BY 2025
    * WILL FINANCE THIS TRANSACTION VIA BANK DEBT, TO RETAIN
CASH FOR
POSSIBLE FURTHER ACQUISITIONS
    * AT TIME OF TRANSACTION, SIDETRADE'S CASH POSITION WAS EUR
24M
($28.6M), INCLUDING TREASURY SHARES
    * WITH AMALTO NOW ON BOARD, CUMULATIVE REVENUE COULD
APPROACH $43M
IN 2021, INCLUDING NEARLY $7M IN NORTH AMERICA
    * AS A RESULT OF THIS OPERATION, SIDETRADE COULD BE
GENERATING
NEARLY 20% OF ITS REVENUES IN NORTH AMERICA, AS EARLY AS THIS
YEAR

Source text for Eikon:  ID:nNDL5FSmyc 
Further company coverage:  ALBFR.PA 

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