ZetaDisplay AB (publ) (”ZetaDisplay”) has today completed the acquisition of all of the shares in the Norwegian company Webpro AS (“Webpro”) thereby increasing its international customer base.
The acquisition is taking place pursuant to the agreement signed with the sellers of Webpro which was announced on 28 May 2018, and according to the supplemental agreement which was signed today by ZetaDisplay and the sellers of Webpro.
In conjunction with today’s closing, ZetaDisplay and the sellers of Webpro have agreed through a supplemental agreement that 50% of the purchase price of approximately NOK 21 million will be paid at the time of closing on a debt-free basis. The remaining 50% of the purchase price will be paid when Webpro has achieved a specified volume of installed base which generates an increase in the company’s future recurring income, according to terms and conditions which have been specified in more detail in the supplemental agreement. At the same time, the terms and conditions for the variable purchase price have been adjusted so that the period during which the earnings-based threshold values for the supplemental purchase price are to be achieved also includes the first half of 2020. The terms and conditions for the variable supplemental purchase price have otherwise not been changed.
Advisors
Fredersen Advokatbyrå AB and Advokatfirmaet Schjødt AS are the legal advisors to ZetaDisplay in conjunction with the acquisition.
For more information please contact:
ZetaDisplay AB (publ)
CEO Leif Liljebrunn
Phone +46 708-45 80 52
Email leif.liljebrunn@zetadisplay.com
CFO Ola Burmark
Phone +46 708-21 57 86
Email ola.burmark@zetadisplay.com
The information contained in this press release is the type of information which ZetaDisplay is obligated to publish according to the Market Abuse Regulation. The information was caused to be published by Leif Liljebrunn on 31 August 2018 at 1.45 PM.
About ZetaDisplay
ZetaDisplay (publ) is a leading provider of digitization solutions for the retail and service industry. The company helps retail and service companies become more competitive by providing innovative services and products closing the gap between digital and physical. ZetaDisplay is in a strong growth phase and intends to establish itself globally during the forthcoming years. The company’s headquarter is located in Sweden, with sales offices in Denmark, Norway, Finland, Estonia and the Netherlands. Since December 2017, the share has been traded on Nasdaq Stockholm’s main market (“ZETA”). Follow the company on Twitter https://twitter.com/zetadisplaypubl.