Brief: Strax Divests Its Gear4 Brand To Zagg

Strax AB

30/11/2018 14:22

Nov 30 (Reuters) - Strax AB  STRAX.ST :
    * STRAX DIVESTS ITS GEAR4 BRAND TO ZAGG FOR MEUR 35 WITH
POTENTIAL
ADDITIONAL PAYMENTS OF MEUR 9
    * STRAX AB - 80 PERCENT OF PURCHASE PRICE TO BE PAID IN CASH
AND
20 PERCENT WILL BE PAID IN SHARES IN ZAGG
    * STRAX AB -  TRANSACTION WILL NEGATIVELY IMPACT STRAX'S
CONSOLIDATED ANNUAL SALES BY MEUR 20-25, WILL REDUCE HEADCOUNT
BY 17 FTES AND OPEX BY 8-10%
    * STRAX AB - TRANSACTION IS BASED ON A CASH AND DEBT-FREE
BASIS

Source text for Eikon:  ID:nPn9TPlzYa 
Further company coverage:  STRAX.ST 

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