Cxense ASA divests Maxifier Ltd, a part of its non-core advertising business
Reference is made to Cxense ASA’s (“Cxense” or the “Company”) report for Q2 2018, published on 22 August 2018, in which the Company confirms its strategy to divest the Maxifier advertising business. The Company has today, on 20 November 2018, entered into an agreement for the sale of 70% of the shares in its wholly-owned subsidiary Maxifier Ltd (“Maxifier”) to Bmax AS. The transaction is based on an enterprise value of USD 250,000, on a cash and debt free basis. Adjusted for cash and debt, the equity value of Maxifier on a 100% basis is USD 250,000. The purchase price payable by