Brief: Observit AB, A Subsidiary Of Spectrumone, Acquires The UK Based Companies Sitoc Ltd And Icanprove.It Ltd

Spectrumone AB (publ)

17/05/2022 17:03

May 17 (Reuters) - Spectrumone AB (publ)  SPEONE.ST :
    * SPECTRUMONE- TO FINANCE CASH PART OF DEAL, DIRECTED ISSUE
OF
53.3 MILLION SHARES IN OBSERVIT AT SEK 0.15 PER SHARE GIVING
GROSS PROCEED OF SEK 8 MILLION
    * OBSERVIT AB, A SUBSIDIARY OF SPECTRUMONE, ACQUIRES THE UK
BASED
COMPANIES SITOC LTD AND ICANPROVE.IT LTD IN ORDER TO BECOME THE
LEADING FLEET SURVEILLANCE SOFTWARE COMPANY IN EUROPE
    * AGREED TOTAL PURCHASE PRICE FOR BOTH COMPANIES IS £ 1.5
MILLION
(APPROXIMATELY SEK 18.750 MILLION)
    * IN COMBINED COMPANY OF NEW OBSERVIT, COMPANY WILL HAVE A
FORECASTED ANNUAL REVENUE OF APPROXIMATELY 60 MSEK

Source text for Eikon:  ID:nWkr6t12Y6 
Further company coverage:  SPEONE.ST 

 ((Reuters.Briefs@thomsonreuters.com;))