Brief: Solteq Buys Partiture's Professional Services Business

Solteq Oyj

01/03/2021 06:04

March 1 (Reuters) - Solteq Oyj  SOLTEQ.HE :
    * SOLTEQ PLC ACQUIRES PARTITURE'S PROFESSIONAL SERVICES
BUSINESS
SPECIALIZED IN THE UTILITIES SECTOR
    * SIGNED A BUSINESS TRANSFER AGREEMENT, WHEREBY PARTITURE
OY'S
PROFESSIONAL SERVICES BUSINESS, ALONG WITH ITS CURRENT EMPLOYEES
AND CUSTOMERS, WILL BE TRANSFERRED TO SOLTEQ
    * AGREEMENT IS EFFECTIVE AS OF MARCH 1, 2021
    * AS A RESULT OF BUSINESS TRANSFER AGREEMENT, 16 EXPERTS
WILL BE
TRANSFERRED TO SOLTEQ FROM PARTITURE OY
    * DEBT-FREE PURCHASE PRICE OF TRANSFER IS EUR 2.35 MILLION.
    * APPROXIMATELY EUR 350,000 OF BUSINESS ACQUISITION PURCHASE
PRICE
WILL BE PAID WITH NEW SOLTEQ SHARES, BASED ON THEAUTHORIZATION
GIVEN TO BOARD, BY GENERAL MEETING ON JUNE 10, 2020
    * REST OF PURCHASE PRICE WILL BE PAID WITH EXISTING CASH
FUNDS.
EUR 1.0 MILLION OF PURCHASE PRICE HAS BEEN PAID AT TIME OF
SIGNING AGREEMENT, AND REST WILL BE PAID ON DECEMBER 15, 2021.
    * IN 2020, REVENUE OF ACQUIRED PROFESSIONAL SERVICE BUSINESS
WAS
APPROXIMATELY EUR 2.35 MILLION (2019: APPROXIMATELY 2.0) AND
RESULT APPROXIMATELY EUR 0.8 MILLION (2019: APPROXIMATELY 0.7)

Source text for Eikon:  ID:nWkr975Tyv 
Further company coverage:  SOLTEQ.HE 

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