TECHSTEP ANNOUNCES ACQUISITION OF INFRAADVICE SWEDEN AB, A SWEDISH ENTERPRISE MOBILITY MANAGEMENT SPECIALIST
On 12 March 2017, Techstep ASA (“Techstep” or the “Company”) entered into a binding agreement with SysTown International AB to acquire InfraAdvice Sweden AB (“InfraAdvice”) for an aggregated purchase price of SEK 18.5 million. The purchase price will be settled with SEK 14.0 million in cash and SEK 4.5 million in Techstep shares based on volume weighted share price 15 days prior to closing. Closing is subject to customary conditions and is expected ultimo March.The shares to be issued to SysTown International AB will be issued under Techstep’s current board authorization to issue shares