Brief: SmartCraft Completes Acquisition Of All Shares Of Inprog

Smartcraft ASA

05/10/2022 07:06

Oct 5 (Reuters) - Smartcraft ASA  SMCRT.OL :
    * SMARTCRAFT ASA (SMCRT) - STRENGTHENED LEADERSHIP WITHIN
SOFTWARE
FOR ELECTRICIANS THROUGH ACQUISITION OF INPROG
    * HAS ENTERED INTO AN AGREEMENT AND COMPLETED ACQUISITION OF
ALL
SHARES OF INPROG AS
    * ACQUISITION OF INPROG IS SECOND ACQUISITION WITHIN ELECTRO
SPACE
DURING 2022
    * PURCHASE PRICE FOR SHARES IS NOK 14.2 MILLION WHICH WAS
PAID IN
CASH
    * ADDITIONALLY, SELLERS CAN ACHIEVE AN EARNOUT OF UP TO NOK
4
MILLION BASED ON EBITDA PERFORMANCE IN 2023
    * PURCHASE PRICE FOR SHARES IS NOK 14.2 MILLION WHICH WAS
PAID IN
CASH
    * INPROG HAD NOK 4.3 MILLION OF REVENUE IN 2021, OF WHICH
99% WAS
RECURRING
    * ADDITIONALLY, SELLERS CAN ACHIEVE AN EARNOUT OF UP TO NOK
4
MILLION BASED ON EBITDA PERFORMANCE IN 2023

Source text for Eikon:  ID:nObiJpCwda 
Further company coverage:  SMCRT.OL 
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