Exsitec Holding AB (publ): Exsitec AS acquires Amesto Solutions Invest AS
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Tjänster |
| Industri | IT-konsult & onlinetjänster |
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Exsitec AS has today entered into an agreement with the owners (the “Sellers”) of Amesto Solutions Invest AS (“Amesto Solutions") regarding the acquisition of 100% of the shares in Amesto Solutions. Access to the shares is expected to take place at the end of May for a total purchase price of approximately 280 MNOK, of which 175 MNOK will be paid in a cash consideration upon closing and 105 MNOK will be paid as deferred consideration 2027 and 2028 (the “Transaction”). The Transaction includes the legal entities Amesto Solutions Invest AS, Amesto TechHouse AS, Amesto Clockwork AS, Amesto Solutions AS, Amesto Solutions AB, Amesto Solutions A/S.
Amesto Solutions is, like Exsitec, a partner to Visma and SuperOffice with a stable recurring customer base that uses Visma's various business systems. Just like Exsitec, Amesto Solutions operates in Norway, Sweden, and Denmark. Amesto Solutions has approximately 120 employees working with just over 1,500 customers, where recurring software revenue accounts for approximately 32% of total revenue.
Two-thirds of Amesto Solutions' operations are in Norway, which means that through the transaction, Exsitec will become the market-leading partner to Visma also in Norway. Amesto Solutions is expected to contribute to Exsitec with a turnover of just over 230 MNOK for the next 12 months with an adjusted EBITA of approximately 40 MNOK.
Amesto Solutions will be integrated into Exsitec's existing operations, and the assessment is that the merged business should be able to achieve the same margins that Exsitec as a whole has today, and that the synergies in the long term should be able to contribute to improved profitability in Exsitec's existing operations in Norway.
The motive for the deal is to strengthen Exsitec's position in the Nordics regarding ERP, primarily in the Norwegian market. With the merger, Exsitec will become the clear market-leading partner to Visma in Norway and gain a strong platform for future growth.
Niklas Ek, CEO and Group President of Exsitec Holding AB, comments:
”With Exsitec's largest acquisition ever, we are strengthening ourselves throughout the Nordic region, but above all, it gives us even better conditions in Norway, where we now become Visma's clear market-leading partner. There are many similarities between Exsitec's and Amesto Solutions' offerings. This allows us to help many more customers in the Nordics with modern tools.”
Arild Spandow, Chairman of the Board of Amesto Solutions Invest AS, comments:
”Together at Amesto Solutions, we have had a very successful journey that we should be proud of, and I feel that Exsitec is exactly the right place for Amesto Solutions to take the next step. I believe in the future for Amesto Solutions and Exsitec together, which is why we are reinvesting in Exsitec to be part of the journey forward.”
Purchase Price and Financing
The purchase price amounts to approximately 280 MNOK, including net cash of approximately 8 MNOK, which is paid in connection with closing through both a cash consideration of approximately 175 MNOK and a deferred consideration totaling 105 MNOK. The Spandow family has undertaken to invest 5 MNOK in Exsitec over the market in the next 30 days . The deferred consideration is due for payment with 55 MNOK on 2027-12-31 and 50 MNOK on 2028-12-31.
The acquisition is financed with own cash and existing acquisition credits from Nordea.
Advisors
Simonsen Vogt Wiig law firm is the legal advisor and PwC is the financial advisor to Exsitec in connection with the Transaction.