Brief: SpectrumOne Acquires Observit

Spectrumone AB (publ)

06/09/2021 13:22

Sept 6 (Reuters) - Spectrumone publ AB  SPEONE.ST :
    * SPECTRUMONE ACQUIRES THE MOBILE SURVEILLANCE COMPANY
OBSERVIT TO
BE MERGED WITH SPECTRUMONE'S BUSINESS TRAFIKPORTALEN WITH THE
INTENTION TO LIST AND DISTRIBUTE THE NEW COMPANY TO THE
SHAREHOLDERS
    * HAS ACQUIRED ALL SHARES IN SWEDISH COMPANY OBSERVIT AB
    * AGREED ENTERPRISE VALUE OF TRANSACTION IS SEK 60 MILLION,
ON A
CASH-FREE AND DEBT-FREE BASIS AND ASSUMING A NORMALIZED LEVEL OF
WORKING CAPITAL
    * PRELIMINARY PURCHASE PRICE WILL BE SETTLED BY SEK 22
MILLION IN
CASH AND SEK 39 MILLION IN SHARES
    * AN ADDITIONAL PURCHASE PRICE AMOUNTING TO A MAXIMUM AMOUNT
OF
SEK 5 MILLION WILL BE PAID IF CERTAIN REVENUE GOALS ARE ACHIEVED
UNTIL JUNE 30, 2022.
    * CLOSING IS EXPECTED TO TAKE PLACE ON SEPTEMBER 15, 2021

Source text for Eikon:  ID:nWkr44q61C 
Further company coverage:  SPEONE.ST 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))